Rehmann Capital Advisory Group raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,933 shares of the wireless technology company’s stock after acquiring an additional 1,615 shares during the quarter. Rehmann Capital Advisory Group’s holdings in QUALCOMM were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in shares of QUALCOMM in the 3rd quarter valued at about $806,000. Burleson & Company LLC bought a new position in shares of QUALCOMM in the 3rd quarter valued at about $745,000. Clearbridge Investments LLC boosted its stake in shares of QUALCOMM by 28.8% in the 3rd quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after purchasing an additional 2,058,096 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its stake in shares of QUALCOMM by 73.3% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 7,794 shares of the wireless technology company’s stock valued at $434,000 after purchasing an additional 3,297 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC boosted its stake in shares of QUALCOMM by 15.6% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 9,177 shares of the wireless technology company’s stock valued at $661,000 after purchasing an additional 1,239 shares during the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.
QUALCOMM stock opened at $55.99 on Friday. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50. The company has a market cap of $69.23 billion, a P/E ratio of 17.55, a PEG ratio of 1.41 and a beta of 1.66. The company has a debt-to-equity ratio of 16.56, a quick ratio of 1.40 and a current ratio of 1.55.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.20. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm earned $0.92 EPS. QUALCOMM’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts expect that QUALCOMM, Inc. will post 3.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.43%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s payout ratio is 77.74%.
In related news, President Cristiano R. Amon sold 88,625 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the transaction, the president now owns 58,045 shares of the company’s stock, valued at approximately $3,994,076.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $63.50, for a total transaction of $54,165.50. Following the transaction, the executive vice president now directly owns 4,344 shares in the company, valued at approximately $275,844. The disclosure for this sale can be found here. Insiders have sold a total of 114,952 shares of company stock worth $7,665,408 in the last three months. 0.17% of the stock is owned by insiders.
QCOM has been the topic of several recent research reports. Rosenblatt Securities raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $70.00 in a research note on Monday, August 20th. Canaccord Genuity raised their target price on shares of QUALCOMM from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Macquarie raised shares of QUALCOMM from a “neutral” rating to an “outperform” rating and raised their target price for the company from $65.00 to $84.00 in a research note on Tuesday, September 4th. Nomura raised their target price on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Finally, Royal Bank of Canada raised their target price on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $70.44.
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QUALCOMM Company Profile
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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