QUALCOMM Incorporated (QCOM) Position Held by Jasper Ridge Partners L.P.
Jasper Ridge Partners L.P. held its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,400 shares of the wireless technology company’s stock at the end of the second quarter. Jasper Ridge Partners L.P.’s holdings in QUALCOMM were worth $243,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Artisan Partners Limited Partnership increased its holdings in shares of QUALCOMM by 9.0% in the first quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock valued at $541,521,000 after purchasing an additional 783,394 shares during the period. Veritas Asset Management LLP acquired a new position in shares of QUALCOMM in the second quarter valued at about $440,415,000. Legal & General Group Plc increased its holdings in shares of QUALCOMM by 1.8% in the second quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock valued at $436,076,000 after purchasing an additional 137,733 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of QUALCOMM by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock valued at $405,008,000 after purchasing an additional 439,180 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of 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 purchasing an additional 1,544,792 shares during the period. 76.93% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on QCOM. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a report on Thursday, August 24th. UBS AG cut their price objective on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Finally, Wells Fargo & Company lowered QUALCOMM from an “outperform” rating to a “market perform” rating in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $65.15.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,837 shares of company stock valued at $1,512,049 over the last ninety days. 0.24% of the stock is owned by company insiders.
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Shares of QUALCOMM Incorporated (NASDAQ QCOM) opened at $66.49 on Tuesday. The stock has a market capitalization of $95,186.84, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a fifty-two week low of $48.92 and a fifty-two week high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. sell-side analysts predict that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
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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