Parametric Portfolio Associates LLC Lowers Holdings in QUALCOMM, Inc. (QCOM)
Parametric Portfolio Associates LLC lowered its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.7% in the 3rd quarter, Holdings Channel reports. The firm owned 3,971,448 shares of the wireless technology company’s stock after selling 195,858 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in QUALCOMM were worth $205,880,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in QCOM. FMR LLC lifted its position in QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP bought a new position in QUALCOMM during the second quarter valued at $440,415,000. Capital International Investors lifted its position in QUALCOMM by 41.8% during the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after purchasing an additional 6,322,645 shares during the last quarter. Maverick Capital Ltd. bought a new position in QUALCOMM during the second quarter valued at $210,548,000. Finally, Parnassus Investments CA lifted its position in QUALCOMM by 62.4% during the third quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after purchasing an additional 3,000,000 shares during the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.
QUALCOMM, Inc. (QCOM) opened at $62.42 on Friday. The company has a market cap of $92,400.00, a PE ratio of -22.06, a P/E/G ratio of 2.00 and a beta of 1.38. QUALCOMM, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The company has a quick ratio of 3.25, a current ratio of 3.41 and a debt-to-equity ratio of 0.81.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.65%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently -80.57%.
Several research firms have commented on QCOM. KeyCorp increased their price objective on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity raised their target price on shares of QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Vetr lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 target price for the company. in a report on Thursday, February 1st. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $68.25.
In related news, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the transaction, the executive vice president now owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander H. Rogers sold 919 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total transaction of $59,110.08. Following the transaction, the executive vice president now directly owns 11,116 shares in the company, valued at approximately $714,981.12. The disclosure for this sale can be found here. Insiders sold a total of 53,346 shares of company stock worth $3,499,504 in the last ninety days. 0.17% of the stock is currently owned by 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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