Davidson & Garrard Inc. lowered its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,686 shares of the wireless technology company’s stock after selling 1,164 shares during the period. Davidson & Garrard Inc.’s holdings in QUALCOMM were worth $3,094,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after acquiring an additional 1,537,645 shares during the period. FMR LLC raised its stake in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after acquiring an additional 11,387,347 shares during the period. Northern Trust Corp raised its stake in shares of QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after acquiring an additional 499,531 shares during the period. Capital International Investors raised its stake in shares of QUALCOMM by 59.9% in the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after acquiring an additional 5,671,176 shares during the period. Finally, Veritas Asset Management LLP raised its stake in shares of QUALCOMM by 68.4% in the 3rd quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after acquiring an additional 5,453,631 shares during the period. 76.20% of the stock is currently owned by institutional investors.
In other news, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the transaction, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold a total of 72,989 shares of company stock valued at $4,678,794 over the last ninety days. Company insiders own 0.24% of the company’s stock.
QUALCOMM, Inc. (QCOM) opened at $65.38 on Friday. The firm has a market cap of $96,380.00, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.39. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM, Inc. has a fifty-two week low of $48.92 and a fifty-two week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. sell-side analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.49%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
A number of brokerages have recently commented on QCOM. Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a research note on Monday, November 13th. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and lifted their price target for the stock from $65.00 to $75.00 in a research note on Tuesday, November 28th. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM has an average rating of “Hold” and a consensus target price of $66.06.
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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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