Scotia Capital Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 46.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,839 shares of the wireless technology company’s stock after purchasing an additional 67,132 shares during the period. Scotia Capital Inc.’s holdings in QUALCOMM were worth $11,642,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in QCOM. FMR LLC grew its holdings in QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after acquiring an additional 11,387,347 shares during the period. Veritas Asset Management LLP acquired a new stake in QUALCOMM during the 2nd quarter worth about $440,415,000. Capital International Investors grew its holdings in QUALCOMM by 59.9% during the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after acquiring an additional 5,671,176 shares during the period. Baupost Group LLC MA acquired a new stake in QUALCOMM during the 1st quarter worth about $299,085,000. Finally, Nordea Investment Management AB grew its holdings in QUALCOMM by 589.4% during the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after acquiring an additional 5,054,642 shares during the period. 76.66% of the stock is owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,427 shares of company stock worth $1,827,995. Insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $64.24 on Friday. QUALCOMM Incorporated has a 1 year low of $48.92 and a 1 year high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The company has a market cap of $95,791.25, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.82 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter last year, the firm earned $1.28 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. sell-side analysts forecast that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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 dividend yield of 3.55%. QUALCOMM’s dividend payout ratio is currently 138.18%.
A number of analysts have weighed in on QCOM shares. Canaccord Genuity increased their price target on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Royal Bank Of Canada increased their price target on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 price target for the company. in a report on Monday, November 6th. Finally, Stifel Nicolaus downgraded QUALCOMM from a “buy” rating to a “hold” rating and increased their price target for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.02.
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QUALCOMM Company Profile
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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