Livforsakringsbolaget Skandia Omsesidigt Continues to Hold Position in QUALCOMM Incorporated (QCOM)
Livforsakringsbolaget Skandia Omsesidigt held its position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,603 shares of the wireless technology company’s stock at the close of the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in QUALCOMM were worth $3,567,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC increased its position in QUALCOMM by 3.6% during the 1st quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock worth $575,769,000 after purchasing an additional 352,962 shares in the last quarter. Artisan Partners Limited Partnership increased its position in QUALCOMM by 9.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock worth $541,521,000 after purchasing an additional 783,394 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in QUALCOMM by 3.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,895,262 shares of the wireless technology company’s stock worth $395,375,000 after purchasing an additional 205,103 shares in the last quarter. Schroder Investment Management Group increased its position in QUALCOMM by 30.8% during the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after purchasing an additional 1,544,792 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in QUALCOMM by 589.4% during the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after purchasing an additional 5,054,642 shares in the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the transaction, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders sold 28,995 shares of company stock worth $1,587,390 over the last quarter. Company insiders own 0.17% of the company’s stock.
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QUALCOMM Incorporated (NASDAQ QCOM) traded up 1.36% during midday trading on Friday, reaching $52.18. The company’s stock had a trading volume of 5,864,991 shares. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The firm has a market capitalization of $77.02 billion, a PE ratio of 19.98 and a beta of 1.29. The firm has a 50 day moving average price of $52.12 and a 200 day moving average price of $55.10.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. On average, analysts predict 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. Shareholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
A number of analysts recently issued reports on the stock. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. Northland Securities downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $75.00 to $62.50 in a research report on Wednesday, June 28th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 target price on shares of QUALCOMM in a research report on Thursday, August 24th. Finally, William Blair reissued a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $63.96.
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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