BT Investment Management Ltd purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 33,539 shares of the wireless technology company’s stock, valued at approximately $1,852,000.
Several other institutional investors have also recently added to or reduced their stakes in QCOM. Veritas Asset Management LLP bought a new position in shares of QUALCOMM during the second quarter worth about $440,415,000. Baupost Group LLC MA bought a new position in QUALCOMM in the 1st quarter valued at about $299,085,000. Nordea Investment Management AB grew its position in QUALCOMM by 589.4% in the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares in the last quarter. Schroder Investment Management Group grew its position in QUALCOMM by 30.8% in the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after buying an additional 1,544,792 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new position in QUALCOMM in the 2nd quarter valued at about $82,556,000. Institutional investors and hedge funds own 76.93% of the company’s stock.
QCOM has been the subject of a number of recent analyst reports. Mizuho reiterated a “buy” rating and issued a $65.00 target price on shares of QUALCOMM in a research report on Friday, July 21st. BidaskClub lowered shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, July 25th. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.42.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,837 shares of company stock worth $1,512,049. Corporate insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $66.72 on Friday. The firm has a market cap of $97,460.00, a P/E ratio of 17.46, a P/E/G ratio of 1.85 and a beta of 1.26. 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 Incorporated has a 52-week low of $48.92 and a 52-week high of $70.24.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the 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 firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. equities analysts expect that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.42%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
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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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