Outfitter Advisors LTD. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,410 shares of the wireless technology company’s stock after selling 100 shares during the period. Outfitter Advisors LTD.’s holdings in QUALCOMM were worth $1,457,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter worth $922,599,000. Pictet Asset Management Ltd. raised its position in shares of QUALCOMM by 73.7% in the first quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock worth $180,788,000 after buying an additional 1,337,883 shares during the last quarter. Swiss National Bank raised its position 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 worth $300,070,000 after buying an additional 1,128,700 shares during the last quarter. BRILLIANCE ASSET MANAGEMENT Ltd purchased a new position in shares of QUALCOMM during the first quarter worth $53,884,000. Finally, Parnassus Investments CA raised its position in shares of QUALCOMM by 40.0% in the first quarter. Parnassus Investments CA now owns 3,159,000 shares of the wireless technology company’s stock worth $181,137,000 after buying an additional 902,000 shares during the last quarter. 76.59% of the stock is currently owned by institutional investors.
Shares of QUALCOMM Incorporated (QCOM) opened at 51.92 on Friday. The stock 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 12-month low of $51.05 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, equities analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders 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 dividend yield of 4.39%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
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QCOM has been the topic of a number of research reports. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Monday, May 1st. J P Morgan Chase & Co lowered their price target on QUALCOMM from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, May 2nd. Standpoint Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Friday, April 28th. BMO Capital Markets reissued a “market perform” rating and issued a $54.00 price target on shares of QUALCOMM in a research report on Tuesday, May 2nd. Finally, Canaccord Genuity lowered their price target on QUALCOMM from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. QUALCOMM has a consensus rating of “Hold” and an average price target of $63.96.
In other news, President Derek K. Aberle sold 22,251 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the transaction, the president now owns 28,959 shares of the company’s stock, valued at $1,667,748.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,101 shares of company stock valued at $2,955,612. Corporate insiders own 0.17% of the company’s stock.
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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