Wedbush Securities Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,225 shares of the wireless technology company’s stock after purchasing an additional 1,609 shares during the period. Wedbush Securities Inc.’s holdings in QUALCOMM were worth $2,442,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership boosted its position in QUALCOMM by 9.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock valued at $541,521,000 after buying an additional 783,394 shares during the period. Schwab Charles Investment Management Inc. boosted its position in QUALCOMM by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock valued at $405,008,000 after buying an additional 439,180 shares during the period. Schroder Investment Management Group boosted its position in QUALCOMM by 30.8% during the 1st 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. Nordea Investment Management AB boosted its position in QUALCOMM by 589.4% during the 1st 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. Finally, Swiss National Bank boosted its position in QUALCOMM by 27.5% during the 1st 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. 76.92% of the stock is currently owned by institutional investors.
QCOM has been the subject of several analyst reports. Susquehanna Bancshares Inc reissued a “positive” rating and set a $67.00 price target (up previously from $61.00) on shares of QUALCOMM in a research report on Sunday, June 18th. Deutsche Bank AG initiated coverage on shares of QUALCOMM in a research report on Monday, June 19th. They set a “hold” rating and a $62.00 price target for the company. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. Finally, Vetr raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target for the company in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and an average price target of $64.00.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 5,810 shares of company stock worth $301,596 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 53.00 on Friday. The stock has a market cap of $78.23 billion, a P/E ratio of 20.30 and a beta of 1.28. The firm’s 50-day moving average is $51.84 and its 200 day moving average is $54.38. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. On average, analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.30%. QUALCOMM’s payout ratio is 87.36%.
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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