Payden & Rygel Increases Position in QUALCOMM Incorporated (QCOM)
Payden & Rygel boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 294,700 shares of the wireless technology company’s stock after acquiring an additional 7,600 shares during the period. QUALCOMM accounts for approximately 1.4% of Payden & Rygel’s portfolio, making the stock its 25th largest holding. Payden & Rygel’s holdings in QUALCOMM were worth $16,273,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its holdings in QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares in the last quarter. Alpha Windward LLC grew its holdings in QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares in the last quarter. Penserra Capital Management LLC grew its holdings in QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after buying an additional 842 shares in the last quarter. FNY Partners Fund LP grew its holdings in QUALCOMM by 102.0% during the 2nd quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock valued at $171,000 after buying an additional 1,565 shares in the last quarter. Finally, American National Bank grew its holdings in QUALCOMM by 28.7% during the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after buying an additional 812 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.
QCOM has been the subject of a number of recent analyst reports. Mizuho reaffirmed a “buy” rating and set a $65.00 target price on shares of QUALCOMM in a report on Friday, July 21st. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, October 17th. Canaccord Genuity lifted their target price on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, UBS AG reduced their target price on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.42.
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QUALCOMM Incorporated (NASDAQ QCOM) opened at $66.11 on Friday. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $96,719.97, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $48.92 and a twelve month high of $70.24.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The business 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%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 earnings per share. equities analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.45%. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the 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 legal filing with the SEC, which is available through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction on 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. In the last quarter, insiders sold 25,837 shares of company stock valued at $1,512,049. 0.17% of the stock is owned by corporate 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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