Robeco Institutional Asset Management B.V. increased its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 16.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 499,038 shares of the wireless technology company’s stock after acquiring an additional 70,537 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in QUALCOMM were worth $38,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake in QUALCOMM by 5.2% during the second quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock valued at $214,000 after buying an additional 139 shares in the last quarter. Enterprise Financial Services Corp boosted its stake in QUALCOMM by 9.9% during the second quarter. Enterprise Financial Services Corp now owns 1,585 shares of the wireless technology company’s stock valued at $121,000 after buying an additional 143 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in QUALCOMM by 8.6% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,862 shares of the wireless technology company’s stock valued at $142,000 after buying an additional 147 shares in the last quarter. Cullinan Associates Inc. boosted its stake in QUALCOMM by 1.7% during the third quarter. Cullinan Associates Inc. now owns 9,160 shares of the wireless technology company’s stock valued at $699,000 after buying an additional 150 shares in the last quarter. Finally, Carroll Financial Associates Inc. boosted its stake in QUALCOMM by 2.0% during the third quarter. Carroll Financial Associates Inc. now owns 7,994 shares of the wireless technology company’s stock valued at $609,000 after buying an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 78.52% of the company’s stock.
Several brokerages recently weighed in on QCOM. Mizuho set a $68.00 target price on QUALCOMM and gave the company a “hold” rating in a research note on Monday, August 26th. Morgan Stanley set a $89.00 target price on QUALCOMM and gave the company a “buy” rating in a research note on Wednesday, August 21st. DZ Bank reaffirmed a “sell” rating on shares of QUALCOMM in a research note on Friday, August 2nd. Bank of America decreased their target price on QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Barclays cut QUALCOMM from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $90.00 to $75.00 in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. QUALCOMM has an average rating of “Buy” and an average target price of $79.68.
Shares of NASDAQ QCOM opened at $77.68 on Friday. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $90.34. The company has a market cap of $96.00 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.88 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. The business has a fifty day simple moving average of $77.21 and a 200-day simple moving average of $74.39.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the business posted $1.01 earnings per share. QUALCOMM’s revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that QUALCOMM, Inc. will post 2.84 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s dividend payout ratio is currently 77.74%.
In other QUALCOMM news, Director Mark D. Mclaughlin acquired 2,705 shares of QUALCOMM stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $73.84 per share, with a total value of $199,737.20. Following the purchase, the director now owns 5,220 shares in the company, valued at $385,444.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Erin L. Polek sold 1,478 shares of the stock in a transaction dated Friday, August 2nd. The stock was 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 $97,518.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,985 shares of company stock valued at $892,245. Company insiders own 0.11% of the company’s stock.
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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