Teacher Retirement System of Texas cut its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 44.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,348 shares of the wireless technology company’s stock after selling 332,382 shares during the period. Teacher Retirement System of Texas’ holdings in QUALCOMM were worth $26,078,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in QCOM. FMR LLC raised its stake in QUALCOMM by 16.5% in the 2nd 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. Capital International Investors raised its stake in QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after purchasing an additional 6,322,645 shares during the last quarter. Veritas Asset Management LLP raised its stake in QUALCOMM by 68.4% in the 3rd quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after purchasing an additional 5,453,631 shares during the last quarter. Maverick Capital Ltd. acquired a new position in QUALCOMM in the 2nd quarter valued at about $210,548,000. Finally, Parnassus Investments CA raised its stake in QUALCOMM by 62.4% in the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after purchasing an additional 3,000,000 shares during the last quarter. Institutional investors and hedge funds own 78.11% of the company’s stock.
Several brokerages recently weighed in on QCOM. Deutsche Bank began coverage on shares of QUALCOMM in a research note on Thursday. They issued a “hold” rating and a $60.00 target price for the company. Wells Fargo began coverage on shares of QUALCOMM in a research note on Friday. They issued a “market perform” rating for the company. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 target price for the company in a research note on Friday, January 26th. Mizuho reaffirmed a “buy” rating and set a $75.00 price objective (up previously from $65.00) on shares of QUALCOMM in a research note on Wednesday, January 17th. Finally, Northland Securities reaffirmed a “buy” rating and set a $75.00 price objective on shares of QUALCOMM in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and an average target price of $68.25.
In other QUALCOMM news, EVP James H. Thompson sold 50,126 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the transaction, the executive vice president now owns 136,482 shares in the company, valued at approximately $8,551,962.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the transaction, the executive vice president now owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,938 shares of company stock valued at $6,137,671. 0.17% of the stock is owned by company insiders.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at $60.62 on Friday. The stock has a market cap of $88,658.94, a P/E ratio of -21.34, a P/E/G ratio of 1.86 and a beta of 1.35. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.
QUALCOMM (NASDAQ:QCOM) last posted 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. The firm had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company’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 EPS. analysts expect that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders 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 3.76%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently -80.28%.
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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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