Gs Investments Inc. cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 35.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,630 shares of the wireless technology company’s stock after selling 4,150 shares during the quarter. Gs Investments Inc.’s holdings in QUALCOMM were worth $396,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of QCOM. Vanguard Group Inc. lifted its stake in QUALCOMM by 1.5% in the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after purchasing an additional 1,537,645 shares during the last quarter. FMR LLC lifted its stake in QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Northern Trust Corp lifted its stake in QUALCOMM by 2.6% in the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after purchasing an additional 499,531 shares during the last quarter. Capital International Investors lifted its stake in QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after purchasing an additional 5,671,176 shares during the last quarter. Finally, Veritas Asset Management LLP raised its stake in shares of QUALCOMM by 68.4% during the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after acquiring an additional 5,453,631 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the transaction, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the transaction, the executive vice president now directly owns 10,403 shares in the company, valued at $709,484.60. The disclosure for this sale can be found here. Insiders sold a total of 73,346 shares of company stock worth $4,708,304 over the last 90 days. Company insiders own 0.17% of the company’s stock.
QUALCOMM, Inc. (NASDAQ QCOM) traded down $0.73 during trading on Friday, reaching $66.07. 10,785,479 shares of the company’s stock were exchanged, compared to its average volume of 8,150,000. The firm has a market cap of $97,400.00, a price-to-earnings ratio of -23.35, a PEG ratio of 1.87 and a beta of 1.38. QUALCOMM, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.81 and a current ratio of 3.41.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. analysts predict that QUALCOMM, Inc. will post 3.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.45%. QUALCOMM’s payout ratio is -80.57%.
Several analysts have recently weighed in on the stock. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday. KeyCorp reissued a “buy” rating and issued a $73.00 price objective (up previously from $68.00) on shares of QUALCOMM in a research note on Thursday. Northland Securities reissued a “buy” rating and issued a $75.00 price objective on shares of QUALCOMM in a research note on Thursday. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price objective for the company. in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of QUALCOMM from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.25.
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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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