Ameritas Investment Partners Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 31.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,170 shares of the wireless technology company’s stock after selling 28,102 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in QUALCOMM were worth $3,378,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. FMR LLC raised its holdings in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after acquiring an additional 11,387,347 shares in the last quarter. Veritas Asset Management LLP purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at about $440,415,000. Capital International Investors raised its holdings in shares of QUALCOMM by 59.9% in the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after acquiring an additional 5,671,176 shares in the last quarter. Baupost Group LLC MA purchased a new stake in shares of QUALCOMM in the 1st quarter valued at about $299,085,000. Finally, Nordea Investment Management AB raised its holdings in shares of QUALCOMM by 589.4% in the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after acquiring an additional 5,054,642 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $64.24 on Friday. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1 year low of $48.92 and a 1 year high of $70.24. The stock has a market capitalization of $96,159.79, a P/E ratio of 17.26, a P/E/G ratio of 1.85 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company earned $1.28 EPS. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts predict that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The business also recently declared 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 3.55%. QUALCOMM’s payout ratio is 138.18%.
In related news, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following 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. Over the last 90 days, insiders have sold 29,427 shares of company stock worth $1,827,995. 0.17% of the stock is owned by corporate insiders.
Several analysts have weighed in on QCOM shares. Canaccord Genuity raised their price target on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Royal Bank Of Canada raised their price target on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. Vetr cut QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 price target on the stock. in a report on Monday, November 6th. Finally, Stifel Nicolaus cut QUALCOMM from a “buy” rating to a “hold” rating and raised their price target for the company from $65.00 to $75.00 in a report on Tuesday, November 28th. One research 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. The stock has a consensus rating of “Hold” and an average price target 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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