KBC Group NV Sells 234,862 Shares of QUALCOMM Incorporated (QCOM)
KBC Group NV reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 58.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,713 shares of the wireless technology company’s stock after selling 234,862 shares during the quarter. KBC Group NV’s holdings in QUALCOMM were worth $9,041,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Baupost Group LLC MA acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $299,085,000. Nordea Investment Management AB boosted its stake in shares of 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 during the last quarter. Schroder Investment Management Group boosted its stake in shares of 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 during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of QUALCOMM by 73.7% during the 1st quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock worth $180,788,000 after purchasing an additional 1,337,883 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of QUALCOMM by 57.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,432,959 shares of the wireless technology company’s stock worth $189,570,000 after purchasing an additional 1,252,781 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Several research firms have issued reports on QCOM. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $60.00 price target on shares of QUALCOMM in a research note on Friday, June 30th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price target on shares of QUALCOMM in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $65.00 price target on shares of QUALCOMM in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $63.80.
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Shares of QUALCOMM Incorporated (NASDAQ QCOM) opened at 52.21 on Thursday. The company has a 50 day moving average of $51.89 and a 200-day moving average of $54.22. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62. The company has a market cap of $77.07 billion, a price-to-earnings ratio of 20.00 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping 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 company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The firm 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 dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.37%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 5,810 shares of company stock valued at $301,596. Corporate insiders own 0.17% of the company’s stock.
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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