Alpha Cubed Investments LLC increased its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 317.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,129 shares of the wireless technology company’s stock after acquiring an additional 40,416 shares during the quarter. Alpha Cubed Investments LLC’s holdings in QUALCOMM were worth $2,754,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its holdings in QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after buying an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP purchased a new stake in shares of QUALCOMM in the second quarter valued at about $440,415,000. Capital International Investors raised its holdings in shares of QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after purchasing an additional 5,671,176 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after purchasing an additional 5,054,642 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of QUALCOMM in the second quarter valued at about $210,548,000. 76.20% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the sale, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,989 shares of company stock worth $4,678,794. 0.24% of the stock is currently owned by company insiders.
Several brokerages have recently commented on QCOM. Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 target price for the company in a report on Tuesday, January 2nd. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. Finally, BMO Capital Markets increased their target price on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $66.06.
Shares of QUALCOMM, Inc. (NASDAQ QCOM) traded up $0.17 during midday trading on Thursday, hitting $65.43. 4,212,600 shares of the company traded hands, compared to its average volume of 8,560,000. 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, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The stock has a market capitalization of $96,450.00, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. equities analysts predict that QUALCOMM, Inc. will post 3.07 EPS for the current year.
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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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