Thompson Investment Management Inc. raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,529 shares of the wireless technology company’s stock after purchasing an additional 6,709 shares during the quarter. QUALCOMM comprises about 1.4% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 16th biggest position. Thompson Investment Management Inc.’s holdings in QUALCOMM were worth $7,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in QUALCOMM in the second quarter worth about $114,000. Krilogy Financial LLC boosted its stake in QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after acquiring an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new position in QUALCOMM in the second quarter valued at approximately $141,000. Jacobi Capital Management LLC boosted its stake in QUALCOMM by 7.8% in the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after acquiring an additional 200 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the period. 76.16% of the stock is currently owned by institutional investors and hedge funds.
QUALCOMM, Inc. (QCOM) traded down $4.34 during midday trading on Monday, hitting $61.73. The company’s stock had a trading volume of 35,871,324 shares, compared to its average volume of 8,150,000. The company has a market capitalization of $91,000.00, a PE ratio of -21.81, a P/E/G ratio of 1.87 and a beta of 1.38. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. sell-side analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s payout ratio is -80.57%.
In other news, EVP Alexander H. Rogers sold 919 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total transaction of $59,110.08. Following the transaction, the executive vice president now directly owns 11,116 shares in the company, valued at approximately $714,981.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,346 shares of company stock worth $3,499,504. Corporate insiders own 0.24% of the company’s stock.
Several equities analysts have recently issued reports on the company. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective for the company in a research report on Monday, November 13th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Canaccord Genuity boosted their price objective on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Citigroup boosted their price objective on QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Standpoint Research downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. QUALCOMM has an average rating of “Hold” and a consensus price target of $68.25.
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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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