QUALCOMM, Inc. (QCOM) Position Lifted by Norinchukin Bank The
Norinchukin Bank The increased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,838 shares of the wireless technology company’s stock after acquiring an additional 7,300 shares during the quarter. Norinchukin Bank The’s holdings in QUALCOMM were worth $9,634,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Westwood Holdings Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $114,000. Krilogy Financial LLC grew its position in QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $141,000. Jacobi Capital Management LLC grew its position in QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position 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 worth $160,000 after purchasing an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.
In related news, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the sale, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at $2,810,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders have sold 72,989 shares of company stock worth $4,678,794 over the last three months. 0.17% of the stock is currently owned by insiders.
Several analysts have weighed in on the stock. Canaccord Genuity boosted their target price on shares of QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday. Macquarie boosted their target price on shares of QUALCOMM from $55.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday. Mizuho reissued a “buy” rating and set a $75.00 target price (up previously from $65.00) on shares of QUALCOMM in a research report on Wednesday. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Nomura raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $75.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $67.14.
Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at $68.04 on Friday. The company has a market cap of $100,290.00, a price-to-earnings ratio of 41.24, a PEG ratio of 1.93 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month high of $69.28.
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. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. sell-side analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
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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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