Sabal Trust CO cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 414,116 shares of the wireless technology company’s stock after selling 12,428 shares during the quarter. QUALCOMM comprises 2.7% of Sabal Trust CO’s investment portfolio, making the stock its 19th biggest position. Sabal Trust CO’s holdings in QUALCOMM were worth $26,511,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. FMR LLC boosted its position in QUALCOMM by 16.5% during 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 during the last quarter. Capital International Investors boosted its holdings 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 shares of 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 acquiring an additional 5,453,631 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $210,548,000. Finally, Parnassus Investments CA raised its stake in shares of 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 acquiring an additional 3,000,000 shares during the period. Hedge funds and other institutional investors own 77.96% of the company’s stock.
In other news, EVP James H. Thompson sold 50,126 shares of the company’s stock in a transaction on Friday, March 9th. The shares were 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 919 shares of the company’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 completion of the transaction, the executive vice president now owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. 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. Company insiders own 0.24% of the company’s stock.
Shares of QUALCOMM, Inc. (QCOM) opened at $58.37 on Tuesday. 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. The company has a market cap of $89,739.61, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.89 and a beta of 1.35.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating 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 the consensus estimate of $5.93 billion. During the same period in the prior year, the firm posted $1.19 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. equities research analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The business also recently announced 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. This represents a $2.28 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is -80.28%.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, November 27th. KeyCorp upped their target price on shares of QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Morgan Stanley assumed coverage on shares of QUALCOMM in a research note on Monday. They set an “underweight” rating and a $55.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and a consensus target price of $68.05.
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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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