New York State Teachers Retirement System lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,416,857 shares of the wireless technology company’s stock after selling 49,700 shares during the quarter. New York State Teachers Retirement System owned approximately 0.16% of QUALCOMM worth $125,290,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in QCOM. FMR LLC grew its position in shares of QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP acquired a new position in shares of QUALCOMM in the second quarter valued at approximately $440,415,000. Capital International Investors grew its position 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. Maverick Capital Ltd. acquired a new position in shares of QUALCOMM in the second quarter valued at approximately $210,548,000. Finally, Janus Henderson Group PLC grew its position in shares of QUALCOMM by 990.9% in the second quarter. Janus Henderson Group PLC now owns 2,276,683 shares of the wireless technology company’s stock valued at $125,717,000 after purchasing an additional 2,067,991 shares during the last quarter. 76.20% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the company. Zacks Investment Research downgraded QUALCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Vetr cut QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price target for the company. in a research note on Thursday, November 23rd. Stifel Nicolaus cut QUALCOMM from a “buy” rating to a “hold” rating and boosted their price target for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Finally, BMO Capital Markets boosted their price target on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $66.06.
Shares of QUALCOMM, Inc. (QCOM) opened at $65.38 on Friday. The firm has a market capitalization of $96,380.00, a price-to-earnings ratio of 39.62, a P/E/G ratio of 1.86 and a beta of 1.39. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28. 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 (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. equities analysts anticipate that QUALCOMM, Inc. will post 3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.49%. QUALCOMM’s payout ratio is 138.18%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the sale, the executive vice president now directly 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 hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the 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 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. Company insiders own 0.17% of the company’s stock.
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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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