DekaBank Deutsche Girozentrale Grows Stock Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

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DekaBank Deutsche Girozentrale boosted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 271.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,116,495 shares of the wireless technology company’s stock after acquiring an additional 815,989 shares during the period. DekaBank Deutsche Girozentrale’s holdings in QUALCOMM were worth $84,503,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Weaver Consulting Group acquired a new position in shares of QUALCOMM during the 1st quarter valued at $25,000. Ibex Wealth Advisors acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $28,000. Hexavest Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $33,000. Lenox Wealth Advisors LLC acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $34,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter valued at $26,000. 77.19% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Erin L. Polek sold 1,478 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the sale, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at approximately $97,518.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Several research firms recently weighed in on QCOM. Sanford C. Bernstein set a $60.00 target price on shares of QUALCOMM and gave the company a “hold” rating in a report on Wednesday, April 17th. Canaccord Genuity reduced their target price on shares of QUALCOMM from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Bank of America dropped their price target on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Cowen reaffirmed an “outperform” rating and set a $80.00 price target (down previously from $100.00) on shares of QUALCOMM in a research note on Thursday, May 23rd. Finally, Cfra set a $80.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $79.93.

Shares of NASDAQ:QCOM opened at $72.18 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $90.34. The firm’s 50-day simple moving average is $74.33. The company has a market cap of $84.34 billion, a P/E ratio of 22.63, a PEG ratio of 1.94 and a beta of 1.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. As a group, analysts expect that QUALCOMM, Inc. will post 2.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is currently 77.74%.

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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