QUALCOMM Incorporated (QCOM) Shares Sold by Investec Asset Management LTD
Investec Asset Management LTD reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 92.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,348 shares of the wireless technology company’s stock after selling 2,209,081 shares during the period. Investec Asset Management LTD’s holdings in QUALCOMM were worth $10,284,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Appaloosa LP raised its position in shares of QUALCOMM by 55.6% in the fourth quarter. Appaloosa LP now owns 1,400,000 shares of the wireless technology company’s stock valued at $91,280,000 after buying an additional 500,000 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $759,000. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $922,599,000. Vident Investment Advisory LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $1,469,000. Finally, Access Financial Services Inc. acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $1,134,000. Institutional investors and hedge funds own 76.61% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.316% on Wednesday, reaching $52.455. The company’s stock had a trading volume of 1,712,532 shares. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62. The firm’s 50 day moving average is $55.08 and its 200-day moving average is $55.95. The stock has a market cap of $77.43 billion, a P/E ratio of 20.090 and a beta of 1.29. QUALCOMM also was the recipient of some unusual options trading on Monday. Stock investors purchased 21,472 put options on the stock. This represents an increase of 152% compared to the typical daily volume of 8,513 put options.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. On average, equities research analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
QCOM has been the subject of several research analyst reports. Mizuho reiterated a “buy” rating and issued a $75.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 11th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price objective on shares of QUALCOMM in a research report on Monday, April 17th. Rosenblatt Securities lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Wednesday, April 19th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $73.00 price objective on shares of QUALCOMM in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $63.96.
In other news, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the transaction, the executive vice president now directly owns 3,049 shares in the company, valued at $174,646.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald J. Rosenberg sold 10,701 shares of QUALCOMM stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $55.02, for a total value of $588,769.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,802 shares of company stock valued at $3,544,381. 0.24% of the stock is owned by company 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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