Public Employees Retirement System of Ohio boosted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,032,879 shares of the wireless technology company’s stock after purchasing an additional 15,663 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.07% of QUALCOMM worth $66,125,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of QCOM. Capital International Investors raised its stake in QUALCOMM by 41.8% during the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after acquiring an additional 6,322,645 shares in the last quarter. Veritas Asset Management LLP raised its stake in QUALCOMM by 68.4% during the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock worth $696,173,000 after acquiring an additional 5,453,631 shares in the last quarter. Maverick Capital Ltd. acquired a new position in QUALCOMM during the second quarter worth about $210,548,000. Parnassus Investments CA raised its stake in QUALCOMM by 62.4% during the third quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock worth $404,819,000 after acquiring an additional 3,000,000 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in QUALCOMM by 7,466.2% during the third quarter. Stifel Financial Corp now owns 2,872,490 shares of the wireless technology company’s stock worth $148,873,000 after acquiring an additional 2,834,525 shares in the last quarter. 77.96% of the stock is owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP James H. Thompson sold 50,126 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $62.66, for a total value of $3,140,895.16. Following the transaction, the executive vice president now directly owns 136,482 shares of the company’s stock, valued at $8,551,962.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alexander H. Rogers sold 919 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total value of $59,110.08. Following the completion of the transaction, the executive vice president now directly owns 11,116 shares in the company, valued at $714,981.12. The disclosure for this sale can be found here. Insiders sold 95,938 shares of company stock worth $6,137,671 over the last quarter. 0.17% of the stock is currently owned by company insiders.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The business had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. equities analysts predict that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Tuesday, February 27th. QUALCOMM’s payout ratio is presently -80.28%.
QCOM has been the subject of several research analyst reports. Vetr raised QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 target price for the company in a research note on Tuesday, January 2nd. Canaccord Genuity boosted their target price on QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. KeyCorp boosted their target price on QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Nomura raised QUALCOMM from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $75.00 in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada boosted their price target on QUALCOMM from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $68.05.
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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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