Cetera Advisors LLC lowered its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.1% in the 3rd quarter, Holdings Channel reports. The firm owned 93,909 shares of the wireless technology company’s stock after selling 1,085 shares during the quarter. Cetera Advisors LLC’s holdings in QUALCOMM were worth $4,864,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. FMR LLC increased its holdings in QUALCOMM by 16.5% during 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 purchasing an additional 11,387,347 shares during the period. Veritas Asset Management LLP purchased a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $440,415,000. Capital International Investors lifted its position in QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after acquiring an additional 6,322,645 shares in the last quarter. Maverick Capital Ltd. bought a new position in QUALCOMM in the 2nd quarter valued at approximately $210,548,000. Finally, Parnassus Investments CA lifted its position in QUALCOMM by 62.4% in the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after acquiring an additional 3,000,000 shares in the last quarter. 76.16% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on QCOM shares. Stifel Nicolaus reissued a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, October 17th. Mizuho restated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. BMO Capital Markets raised their price objective on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, November 2nd. Finally, Canaccord Genuity raised their price objective on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $68.25.
In related news, EVP Alexander H. Rogers sold 713 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the transaction, the executive vice president now directly owns 10,403 shares in the company, valued at $709,484.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares of the company’s stock, valued at $824,638.20. The disclosure for this sale can be found here. Insiders have sold 53,346 shares of company stock valued at $3,499,504 over the last 90 days. 0.24% of the stock is currently owned by insiders.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at $61.73 on Tuesday. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The company has a market cap of $91,000.00, a price-to-earnings ratio of -21.81, a PEG ratio of 1.87 and a beta of 1.38.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The business had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. research analysts predict that QUALCOMM, Inc. will post 3.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a yield of 3.69%. QUALCOMM’s dividend payout ratio is presently -80.57%.
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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