Accident Compensation Corp boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,161 shares of the wireless technology company’s stock after acquiring an additional 5,300 shares during the quarter. Accident Compensation Corp’s holdings in QUALCOMM were worth $4,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of QCOM. Artisan Partners Limited Partnership lifted its holdings in QUALCOMM by 3.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock worth $537,426,000 after buying an additional 288,413 shares during the period. Veritas Asset Management LLP purchased a new stake in QUALCOMM in the 2nd quarter worth approximately $440,415,000. Legal & General Group Plc lifted its stake in shares of QUALCOMM by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock valued at $436,076,000 after purchasing an additional 137,733 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of QUALCOMM by 6.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock valued at $405,008,000 after purchasing an additional 439,180 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of QUALCOMM by 30.8% in the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after purchasing an additional 1,544,792 shares during the period. Institutional investors own 76.66% of the company’s stock.
In other news, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders have sold 29,427 shares of company stock worth $1,827,995 over the last quarter. 0.24% of the stock is owned by company insiders.
A number of research analysts have recently commented on the company. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Monday, November 27th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and raised their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.02.
Shares of QUALCOMM Incorporated (QCOM) traded down $0.93 on Monday, hitting $64.56. The company had a trading volume of 17,325,110 shares, compared to its average volume of 11,430,608. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24. The company has a market capitalization of $95,170.00, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.83 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. QUALCOMM’s revenue was down 3.5% compared to the same quarter last year. research analysts anticipate that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.53%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
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QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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