Capco Asset Management LLC raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 207,874 shares of the wireless technology company’s stock after buying an additional 4,035 shares during the period. QUALCOMM comprises about 8.9% of Capco Asset Management LLC’s portfolio, making the stock its 5th biggest position. Capco Asset Management LLC’s holdings in QUALCOMM were worth $10,776,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Westwood Holdings Group Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter valued at about $114,000. Krilogy Financial LLC boosted its position in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after purchasing an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of QUALCOMM during the 2nd quarter valued at about $141,000. Jacobi Capital Management LLC boosted its position in shares of QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after purchasing an additional 200 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in shares of QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after purchasing an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) traded up $1.26 during trading on Wednesday, hitting $68.25. The stock had a trading volume of 13,913,108 shares, compared to its average volume of 7,870,000. The stock has a market capitalization of $100,610.00, a P/E ratio of 41.36, a PEG ratio of 1.91 and a beta of 1.39. QUALCOMM, Inc. has a 12-month low of $48.92 and a 12-month high of $69.28. 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 (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.91 by $0.07. The firm had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. equities analysts expect 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. Stockholders of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
Several equities research analysts recently commented on QCOM shares. Canaccord Genuity upped their target price on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, UBS Group cut their price target on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Eighteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. QUALCOMM has an average rating of “Hold” and an average price target of $67.49.
In related news, EVP Matthew S. Grob sold 20,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the sale, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at $709,484.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,346 shares of company stock valued at $4,708,304. Company insiders own 0.24% of the company’s stock.
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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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