Platinum Investment Management Ltd. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,000 shares of the wireless technology company’s stock, valued at approximately $331,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of QCOM. Vanguard Group Inc. lifted its holdings in QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after buying an additional 1,537,645 shares during the period. FMR LLC lifted its holdings in QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after buying an additional 11,387,347 shares during the period. Northern Trust Corp lifted its holdings in QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after buying an additional 499,531 shares during the period. Capital International Investors lifted its holdings in QUALCOMM by 59.9% in the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after buying an additional 5,671,176 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in QUALCOMM by 3.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock worth $537,426,000 after buying an additional 288,413 shares during the period. Institutional investors and hedge funds own 76.66% of the company’s stock.
QCOM has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, November 2nd. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. UBS upgraded QUALCOMM from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Royal Bank Of Canada increased their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. Finally, Mizuho reiterated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.02.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last three months, insiders sold 29,427 shares of company stock valued at $1,827,995. Corporate insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $64.98 on Thursday. The stock has a market capitalization of $95,363.74, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. equities research analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
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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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