Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 29.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 109,565 shares of the wireless technology company’s stock after buying an additional 24,903 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in QUALCOMM were worth $6,282,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P raised its stake in shares of QUALCOMM by 3.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 16,458,657 shares of the wireless technology company’s stock valued at $1,073,104,000 after buying an additional 531,407 shares in the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter valued at about $922,599,000. Fisher Asset Management LLC raised its stake in shares of QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock valued at $575,769,000 after buying an additional 352,962 shares in the last quarter. Swiss National Bank raised its stake in shares of QUALCOMM by 27.5% in the first quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock valued at $300,070,000 after buying an additional 1,128,700 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of QUALCOMM by 0.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,508,344 shares of the wireless technology company’s stock valued at $258,508,000 after buying an additional 32,884 shares in the last quarter. Institutional investors own 76.59% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.67% during mid-day trading on Friday, hitting $51.92. The stock had a trading volume of 6,696,408 shares. The firm has a market cap of $76.64 billion, a PE ratio of 19.89 and a beta of 1.29. The firm has a 50 day moving average price of $54.04 and a 200 day moving average price of $55.54. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter last year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio is 87.36%.
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A number of brokerages recently commented on QCOM. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a report on Monday, July 31st. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Sanford C. Bernstein restated a “market perform” rating on shares of QUALCOMM in a report on Tuesday, July 25th. Finally, BidaskClub downgraded QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and an average price target of $63.96.
In other news, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total transaction of $325,636.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Derek K. Aberle sold 22,251 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the transaction, the president now owns 28,959 shares in the company, valued at approximately $1,667,748.81. The disclosure for this sale can be found here. Insiders sold a total of 52,101 shares of company stock valued at $2,955,612 in the last ninety days. Company insiders own 0.17% of the company’s stock.
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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