World Asset Management Inc decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,805 shares of the wireless technology company’s stock after selling 9,500 shares during the quarter. World Asset Management Inc’s holdings in QUALCOMM were worth $8,054,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position 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 acquiring an additional 1,537,645 shares in the last quarter. FMR LLC raised its position 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 acquiring an additional 11,387,347 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in QUALCOMM by 2.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after acquiring an additional 498,324 shares in the last quarter. Capital International Investors raised its position in QUALCOMM by 41.8% in the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after acquiring an additional 6,322,645 shares in the last quarter. Finally, Northern Trust Corp raised its position 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 acquiring an additional 499,531 shares in the last quarter. 75.67% of the stock is owned by institutional investors.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $64.85 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The firm has a market capitalization of $96,001.54, a PE ratio of -22.83, a price-to-earnings-growth ratio of 2.02 and a beta of 1.38.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business posted $1.19 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. equities research analysts forecast that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.52%. QUALCOMM’s dividend payout ratio (DPR) is presently -80.28%.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction dated Tuesday, January 9th. The stock was 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 owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,506 shares of company stock worth $2,977,673. Company insiders own 0.24% of the company’s stock.
QCOM has been the topic of several research reports. Canaccord Genuity boosted their price target 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. Royal Bank of Canada boosted their price target 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 cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 price target on the stock. in a research report on Monday, November 6th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Nomura upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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