Gs Investments Inc. cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 35.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,630 shares of the wireless technology company’s stock after selling 4,150 shares during the period. Gs Investments Inc.’s holdings in QUALCOMM were worth $396,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. American National Bank grew its position in QUALCOMM by 28.7% in the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 812 shares in the last quarter. Robinson Value Management Ltd. grew its position in QUALCOMM by 2.3% in the second quarter. Robinson Value Management Ltd. now owns 38,090 shares of the wireless technology company’s stock worth $2,103,000 after acquiring an additional 868 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in QUALCOMM by 0.9% in the second quarter. Xact Kapitalforvaltning AB now owns 242,570 shares of the wireless technology company’s stock worth $13,395,000 after acquiring an additional 2,237 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in QUALCOMM by 1.4% in the second quarter. Guinness Atkinson Asset Management Inc now owns 154,130 shares of the wireless technology company’s stock worth $8,511,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Guinness Asset Management Ltd grew its position in QUALCOMM by 20.6% in the second quarter. Guinness Asset Management Ltd now owns 86,500 shares of the wireless technology company’s stock worth $4,777,000 after acquiring an additional 14,800 shares in the last quarter. 76.20% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction on 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 approximately $824,638.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,989 shares of company stock valued at $4,678,794. Corporate insiders own 0.24% of the company’s stock.
QCOM has been the subject of several recent research reports. Canaccord Genuity boosted their target price on shares of QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Royal Bank of Canada boosted their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 target price for the company. in a research report on Monday, November 6th. Finally, Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and boosted their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, nineteen have given 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 target price of $66.06.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $65.38 on Friday. The company has a market cap of $96,380.00, a price-to-earnings ratio of 39.62, a P/E/G ratio of 1.89 and a beta of 1.39. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 EPS. equities analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.49%. QUALCOMM’s payout ratio is currently 138.18%.
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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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