Oppenheimer & Co. Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the first quarter, Holdings Channel reports. The institutional investor owned 283,817 shares of the wireless technology company’s stock after buying an additional 3,968 shares during the period. Oppenheimer & Co. Inc.’s holdings in QUALCOMM were worth $16,274,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB raised its position in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares during the period. Schroder Investment Management Group raised its position in QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after buying an additional 1,544,792 shares during the period. Pictet Asset Management Ltd. raised its position in QUALCOMM by 73.7% in the first quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock valued at $180,788,000 after buying an additional 1,337,883 shares during the period. Swiss National Bank raised its position in QUALCOMM by 27.5% in the first quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock valued at $300,070,000 after buying an additional 1,128,700 shares during the period. Finally, Stifel Financial Corp raised its position in QUALCOMM by 47.4% in the first quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock valued at $168,002,000 after buying an additional 943,026 shares during the period. 76.61% of the stock is owned by institutional investors.
Shares of QUALCOMM Incorporated (QCOM) traded down 0.68% during trading on Thursday, hitting $52.41. The stock had a trading volume of 2,097,992 shares. The stock’s 50-day moving average price is $54.70 and its 200-day moving average price is $55.64. QUALCOMM Incorporated has a one year low of $51.05 and a one year high of $71.62. The company has a market cap of $77.36 billion, a P/E ratio of 20.07 and a beta of 1.29. QUALCOMM also saw unusually large options trading on Monday. Traders purchased 21,472 put options on the stock. This represents an increase of 152% compared to the average volume of 8,513 put options.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the business earned $1.16 EPS. QUALCOMM’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.32%. QUALCOMM’s dividend payout ratio is presently 87.36%.
Several equities analysts have recently weighed in on QCOM shares. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 target price on shares of QUALCOMM in a report on Monday, April 17th. Rosenblatt Securities lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a report on Wednesday, April 19th. Cowen and Company reaffirmed an “outperform” rating and set a $73.00 target price on shares of QUALCOMM in a report on Wednesday, April 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of QUALCOMM in a report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 5,509 shares of QUALCOMM stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. Insiders have sold a total of 52,101 shares of company stock worth $2,955,612 over the last 90 days. 0.17% of the stock is owned by company insiders.
QUALCOMM Company Profile
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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