QUALCOMM Incorporated (QCOM) Shares Sold by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,138,690 shares of the wireless technology company’s stock after selling 796 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of QUALCOMM worth $118,098,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of QCOM. Baupost Group LLC MA acquired a new position in QUALCOMM in the first quarter valued at $299,085,000. Nordea Investment Management AB boosted its holdings in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after acquiring an additional 5,054,642 shares during the last quarter. Schroder Investment Management Group boosted its holdings in QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after acquiring an additional 1,544,792 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in QUALCOMM in the second quarter valued at $82,556,000. Finally, Pictet Asset Management Ltd. boosted its holdings in QUALCOMM by 73.7% in the first quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock valued at $180,788,000 after acquiring an additional 1,337,883 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Several research analysts have commented on the company. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Wells Fargo & Co reissued an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. Vetr raised QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective on the stock in a research report on Tuesday, June 27th. Northland Securities lowered QUALCOMM from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $75.00 to $62.50 in a research report on Wednesday, June 28th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of QUALCOMM in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.80.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 5,810 shares of company stock valued at $301,596. Company insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 52.02 on Friday. The stock’s 50 day moving average price is $51.88 and its 200 day moving average price is $54.17. The firm has a market capitalization of $76.78 billion, a P/E ratio of 19.92 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $48.92 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. On average, analysts forecast that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The company also recently disclosed 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. This represents a $2.28 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is 87.36%.
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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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