Resources Management Corp CT ADV purchased a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,959 shares of the wireless technology company’s stock, valued at approximately $2,056,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 2.4% during the second quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock valued at $7,599,444,000 after acquiring an additional 2,296,163 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in QUALCOMM by 49.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock worth $2,672,850,000 after purchasing an additional 11,686,131 shares in the last quarter. Bank of New York Mellon Corp lifted its position in QUALCOMM by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 25,383,855 shares of the wireless technology company’s stock worth $1,930,950,000 after purchasing an additional 2,035,743 shares during the period. Primecap Management Co. CA lifted its position in QUALCOMM by 0.3% in the second quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock worth $1,880,201,000 after purchasing an additional 83,270 shares during the period. Finally, Northern Trust Corp boosted its stake in QUALCOMM by 1.9% during the 2nd quarter. Northern Trust Corp now owns 15,783,756 shares of the wireless technology company’s stock valued at $1,200,669,000 after purchasing an additional 301,087 shares in the last quarter. Institutional investors and hedge funds own 77.39% of the company’s stock.
Several equities analysts have recently issued reports on QCOM shares. Argus lifted their price target on QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 8th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, October 7th. JPMorgan Chase & Co. raised their target price on QUALCOMM from $88.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Morgan Stanley lowered QUALCOMM from an “overweight” rating to an “equal” rating and lifted their target price for the stock from $89.00 to $90.00 in a report on Monday, November 11th. They noted that the move was a valuation call. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $101.00 price target on shares of QUALCOMM in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Hold” and an average price target of $85.60.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was down 17.2% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM, Inc. will post 3.48 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.02%. QUALCOMM’s dividend payout ratio is currently 87.32%.
In other news, EVP Michelle M. Sterling sold 10,398 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total value of $779,953.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Erin L. Polek sold 3,190 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $84.65, for a total value of $270,033.50. Following the completion of the sale, the chief accounting officer now directly owns 1,040 shares of the company’s stock, valued at approximately $88,036. The disclosure for this sale can be found here. Insiders have sold 56,244 shares of company stock worth $4,637,429 in the last 90 days. 0.11% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.