UBS Asset Management Americas Inc. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,668,570 shares of the wireless technology company’s stock after acquiring an additional 160,226 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.32% of QUALCOMM worth $257,798,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trilogy Global Advisors LP boosted its stake in shares of QUALCOMM by 9.1% during the second quarter. Trilogy Global Advisors LP now owns 1,736,206 shares of the wireless technology company’s stock valued at $95,873,000 after purchasing an additional 144,359 shares in the last quarter. Lazard Asset Management LLC lifted its stake in QUALCOMM by 236.2% in the second quarter. Lazard Asset Management LLC now owns 1,029,374 shares of the wireless technology company’s stock valued at $56,841,000 after buying an additional 723,157 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of QUALCOMM by 35.3% during the second quarter. Rafferty Asset Management LLC now owns 328,517 shares of the wireless technology company’s stock valued at $18,141,000 after acquiring an additional 85,661 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of QUALCOMM by 0.7% during the second quarter. Mutual of America Capital Management LLC now owns 180,190 shares of the wireless technology company’s stock valued at $9,950,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Birch Hill Investment Advisors LLC increased its holdings in shares of QUALCOMM by 1.4% during the second quarter. Birch Hill Investment Advisors LLC now owns 3,651 shares of the wireless technology company’s stock valued at $202,000 after acquiring an additional 51 shares in the last quarter. 76.66% of the stock is owned by institutional investors.
In related news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at $824,638.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,427 shares of company stock valued at $1,827,995. Corporate insiders own 0.24% of the company’s stock.
QCOM has been the subject of several recent research reports. Canaccord Genuity upped their price target on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Finally, UBS reduced their price objective on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. One equities research 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. The company currently has an average rating of “Hold” and a consensus price target of $66.02.
QUALCOMM Incorporated (NASDAQ:QCOM) traded up $0.29 during mid-day trading on Wednesday, hitting $64.98. 6,932,800 shares of the stock traded hands, compared to its average volume of 11,403,939. The stock has a market cap of $95,172.09, a price-to-earnings ratio of 17.08, a PEG ratio of 1.81 and a beta of 1.39. 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 1 year low of $48.92 and a 1 year 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, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.51%. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
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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