Stewart & Patten Co. LLC lessened its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,930 shares of the wireless technology company’s stock after selling 10,711 shares during the quarter. QUALCOMM comprises 1.6% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 28th largest position. Stewart & Patten Co. LLC’s holdings in QUALCOMM were worth $8,550,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Westwood Holdings Group Inc. purchased a new position in QUALCOMM in the 2nd quarter worth approximately $114,000. Krilogy Financial LLC increased its stake in QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. purchased a new position in QUALCOMM in the 2nd quarter worth approximately $141,000. Jacobi Capital Management LLC increased its stake in QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares during the period. Finally, Penserra Capital Management LLC increased its stake in QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after purchasing an additional 842 shares during the period. Hedge funds and other institutional investors own 76.20% of the company’s stock.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $65.38 on Friday. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28. 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 stock has a market capitalization of $96,380.00, a price-to-earnings ratio of 39.62, a PEG ratio of 1.89 and a beta of 1.39.
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 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 the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company earned $1.28 earnings per share. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. analysts predict that QUALCOMM, Inc. will post 3.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.49%. QUALCOMM’s dividend payout ratio is 138.18%.
QCOM has been the topic of a number of analyst reports. BMO Capital Markets lifted their price target on QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, November 2nd. UBS Group raised QUALCOMM from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Royal Bank of Canada boosted their target price on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Canaccord Genuity boosted their target price on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, Mizuho reissued a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.06.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the 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 transaction, the executive vice president now owns 12,035 shares of the company’s stock, valued at $824,638.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was 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. In the last three months, insiders sold 72,989 shares of company stock worth $4,678,794. 0.24% of the stock is owned by corporate insiders.
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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