The Vanguard Group, Inc. has recently announced that it has increased stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.45%. After grabbing 98.51 million shares, the institutional investor is now in possession of 5.97 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.73% having worth around $10.4 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.11 million to have a control over 47.44 million shares. And Geode Capital Management LLC raised its holdings to 0.16 million shares by acquiring 16.91 million shares or 1.50% of the stake.
QUALCOMM Incorporated (QCOM) concluded trading on 08/27/20 at a closing price of $116.02, with 8.0 million shares of worth about $928.13 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 4.84% during that period and on Thursday the price saw a loss of about -0.02%. Currently the company’s common shares owned by public are about 1.13B shares, out of which, 1.13B shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 28 analysts are covering the QCOM stock and their offered price forecasts bring an average price target of $120.46. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $166.51 and could fall to a lowest price of $74.00. Analysts also issued an outlook of 2.20 for the QUALCOMM Incorporated stock for next 12 months. The stock’s current price level is 2.72% above of average price target set by the analysts, while a rise to estimated low would result in loss of -56.78 for the stock. However, touching the estimated high of $166.51 would mean a gain of 30.32% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 135 times over the past 12 months. They bought 681,567 shares in 66 of the transactions. In 69 selling transactions, insiders dumped 734,018 shares.
Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Invesco QQQ Trust are the top 3 mutual funds which are holding stakes in QUALCOMM Incorporated Vanguard Total Stock Market Index is currently holding 31.97 million shares of worth totaling $3.38 billion. The company recently came selling 88454.0 shares which brought its stake up to 2.83% of the company’s outstanding shares. Vanguard 500 Index Fund sold -0.14 million shares, after which its hold over company’s outstanding shares shrunk to 2.06%, leaving 23.2 million shares with the mutual fund that have a worth of about $2.45 billion. Invesco QQQ Trust, after buying 12.69 million shares, have now control over 1.13% of the stake in the company. It holds 18942.0 shares of worth $1.34 billion.
QUALCOMM Incorporated (NASDAQ: QCOM) started trading at $116.43, above $0.39 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $116.02, or with a loss of -0.02%. Stock saw a price change of 4.84% in past 5 days and over the past one month there was a price change of 24.71%. Year-to-date (YTD), QCOM shares are showing a performance of 31.50% which increased to 56.05% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $58.00 but also hit the highest price of $117.10 during that period. While comparing its average daily trading volume of 9.78 million shares, we see that about 8.0 million changed hands on the day. The stock is currently trading 4.10% above its 20-day simple moving average (SMA20), while that difference is up 16.91% for SMA50 and it goes to 34.53% higher than SMA200.
The Vanguard Group, Inc. acquired 98.51 million shares of QUALCOMM Incorporated having value of about $10.4 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 5.97 million shares in the company valued at close to $692988736.22, or have control over 6.45% stake in the company. QUALCOMM Incorporated (NASDAQ: QCOM) currently have 1.13B outstanding shares and institutions hold larger chunk of about 77.70% of that. Holding of mutual funds in the company is about 32.25% while other institutional holders and individual stake holders have control over 44.93% and 2.24% of the stake respectively.
The stock has a current market capitalization of $128.19B and its 3Y-monthly beta is at 1.37. PE ratio of stock for trailing 12 months is 49.06, while it has posted earnings per share of $2.37 in the same period. Its PEG reads 1.83 and has Quick Ratio of 1.70 while making debt-to-equity ratio of 4.82. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for QCOM, volatility over the week remained 2.26% while standing at 3.19% over the month.
Analysts are in expectations that QUALCOMM Incorporated (QCOM) stock would likely to be making an EPS of $1.16 in the current quarter, while forecast for next quarter ESPS is $1.66 and it is $6.38 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.01 which is $1.26 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.78 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 216.30% while it is estimated to increase by 62.74% in next year. EPS is likely to grow at an annualized rate of 26.81% for next 5-years, compared to annual growth of -4.00% made by the stock over the past 5-years.
Analysts at 28 brokerage firms have issued recommendations for the QUALCOMM Incorporated (QCOM)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 28 Wall Street analysts, 17 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 3 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Bernstein on August 03, 2020 offering an Outperform rating for the stock and assigned a target price of $135 to it. Coverage by Edward Jones stated QUALCOMM Incorporated (QCOM) stock as a Hold in their note to investors on July 31, 2020, suggesting a price target of for the stock. On July 30, 2020, Cowen Reiterated their recommendations, while on July 30, 2020, Canaccord Genuity Reiterated their ratings for the stock with a price target of $137. Stock get an Overweight rating from JP Morgan on July 27, 2020.