Pinebridge Investments L.P. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 67.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,686 shares of the wireless technology company’s stock after selling 30,494 shares during the period. Pinebridge Investments L.P.’s holdings in QUALCOMM were worth $811,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ronald Blue & Co. LLC increased its stake in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares during the period. Hollencrest Securities LLC increased its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares during the period. North Star Investment Management Corp. increased its stake in shares of QUALCOMM by 0.4% in the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after buying an additional 42 shares during the period. FCA Corp TX increased its stake in shares of QUALCOMM by 0.9% in the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after buying an additional 43 shares during the period. Finally, Farmers Trust Co. increased its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after buying an additional 48 shares during the period. 76.66% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on the company. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective on shares of QUALCOMM in a research note on Thursday, August 24th. UBS decreased their price objective on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Finally, Wells Fargo & Company cut QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $66.02.
In other news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,427 shares of company stock worth $1,827,995. Corporate insiders own 0.24% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) traded up $0.29 during mid-day trading on Wednesday, reaching $64.98. The company’s stock had a trading volume of 6,932,800 shares, compared to its average volume of 11,403,939. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $95,172.09, a price-to-earnings ratio of 17.08, a PEG ratio of 1.81 and a beta of 1.39. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $70.24.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. sell-side analysts expect that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.51%. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
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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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