Sompo Japan Nipponkoa Asset Management CO. LTD. lowered its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,690 shares of the wireless technology company’s stock after selling 16,100 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in QUALCOMM were worth $3,629,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Boston Financial Mangement LLC lifted its position in shares of QUALCOMM by 2.7% in the 4th quarter. Boston Financial Mangement LLC now owns 264,155 shares of the wireless technology company’s stock worth $16,911,000 after buying an additional 6,883 shares during the last quarter. QCI Asset Management Inc. NY lifted its position in QUALCOMM by 1,714.3% in the 4th quarter. QCI Asset Management Inc. NY now owns 6,350 shares of the wireless technology company’s stock valued at $407,000 after purchasing an additional 6,000 shares during the last quarter. Palladium Partners LLC lifted its position in QUALCOMM by 32.5% in the 4th quarter. Palladium Partners LLC now owns 6,560 shares of the wireless technology company’s stock valued at $420,000 after purchasing an additional 1,610 shares during the last quarter. Parnassus Investments CA lifted its position in QUALCOMM by 6.4% in the 4th quarter. Parnassus Investments CA now owns 8,311,000 shares of the wireless technology company’s stock valued at $532,070,000 after purchasing an additional 502,000 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in QUALCOMM in the 4th quarter valued at about $47,825,000. 77.98% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on QCOM shares. UBS assumed coverage on shares of QUALCOMM in a report on Thursday. They issued a “neutral” rating and a $56.00 target price for the company. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 22nd. Morgan Stanley began coverage on shares of QUALCOMM in a research note on Monday, March 19th. They issued an “underweight” rating and a $55.00 target price for the company. Wells Fargo initiated coverage on shares of QUALCOMM in a research report on Friday, March 16th. They issued a “market perform” rating on the stock. Finally, Deutsche Bank initiated coverage on shares of QUALCOMM in a research report on Thursday, March 15th. They set a “hold” rating and a $60.00 target price on the stock. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $67.78.
QCOM stock traded down $1.92 during trading hours on Friday, hitting $53.12. 8,314,854 shares of the stock were exchanged, compared to its average volume of 13,827,848. 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, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The stock has a market capitalization of $81,479.18, a price-to-earnings ratio of 14.05, a PEG ratio of 1.71 and a beta of 1.44.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping the Zacks’ 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%. QUALCOMM’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $1.19 earnings per share. research analysts expect that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 60.32%.
In related news, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $68.20, for a total value of $48,626.60. Following the transaction, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at $709,484.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 663 shares of QUALCOMM stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $56.59, for a total value of $37,519.17. Following the completion of the transaction, the executive vice president now directly owns 8,794 shares in the company, valued at $497,652.46. The disclosure for this sale can be found here. Insiders have sold 95,682 shares of company stock worth $6,116,080 over the last three months. Insiders own 0.17% of the company’s stock.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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