LMR Partners LLP Takes $2.13 Million Position in QUALCOMM, Inc. (QCOM)

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LMR Partners LLP acquired a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 37,503 shares of the wireless technology company’s stock, valued at approximately $2,134,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its stake in shares of QUALCOMM by 9,505.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock worth $591,000 after purchasing an additional 33,262,770 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of QUALCOMM by 1,897,041.6% during the third quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock worth $1,500,428,000 after purchasing an additional 20,829,517 shares during the last quarter. Morgan Stanley raised its stake in shares of QUALCOMM by 163.2% during the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after purchasing an additional 11,713,988 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of QUALCOMM during the third quarter worth approximately $357,926,000. Finally, Capital World Investors raised its stake in shares of QUALCOMM by 33.5% during the third quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock worth $1,338,363,000 after purchasing an additional 4,662,437 shares during the last quarter. Institutional investors own 82.58% of the company’s stock.

QUALCOMM stock opened at $56.97 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25. The firm has a market capitalization of $68.78 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.80 and a beta of 1.21. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. QUALCOMM’s revenue was down 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. Equities analysts predict that QUALCOMM, Inc. will post 3.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 7th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Wednesday, March 6th. QUALCOMM’s payout ratio is currently 77.74%.

Several research firms have recently commented on QCOM. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, February 13th. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Raymond James set a $65.00 price target on QUALCOMM and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Barclays restated a “buy” rating and set a $70.00 price target on shares of QUALCOMM in a research note on Friday, January 18th. Finally, UBS Group restated a “neutral” rating and set a $55.00 price target (down previously from $64.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Twelve research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.58.

In related news, EVP James H. Thompson sold 40,000 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the sale, the executive vice president now owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

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QUALCOMM 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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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