APG Asset Management N.V. reduced its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 72.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 920,291 shares of the wireless technology company’s stock after selling 2,479,565 shares during the quarter. APG Asset Management N.V. owned 0.06% of QUALCOMM worth $47,708,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in QCOM. FMR LLC lifted its holdings in QUALCOMM by 16.5% during the second 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 in the last quarter. Veritas Asset Management LLP bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $440,415,000. Capital International Investors raised its position in shares of QUALCOMM by 59.9% during the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after buying an additional 5,671,176 shares during the last quarter. Nordea Investment Management AB raised its position in shares of QUALCOMM by 589.4% during the first 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 during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $210,548,000. Institutional investors and hedge funds own 76.20% of the company’s stock.
QCOM has been the topic of several research reports. Canaccord Genuity boosted their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Mizuho restated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Finally, UBS Group lowered their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $66.06.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) traded up $0.17 during trading hours on Thursday, hitting $65.43. The stock had a trading volume of 4,212,600 shares, compared to its average volume of 8,560,000. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The stock has a market cap of $96,450.00, a price-to-earnings ratio of 39.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.39. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company 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 posted $1.28 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. analysts forecast that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
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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