Kidder Stephen W cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,099 shares of the wireless technology company’s stock after selling 1,985 shares during the period. QUALCOMM accounts for about 1.4% of Kidder Stephen W’s investment portfolio, making the stock its 27th largest position. Kidder Stephen W’s holdings in QUALCOMM were worth $3,638,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jennison Associates LLC raised its position in QUALCOMM by 139.4% in the third quarter. Jennison Associates LLC now owns 17,576,366 shares of the wireless technology company’s stock worth $1,203,981,000 after buying an additional 10,234,556 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in QUALCOMM during the third quarter valued at about $408,900,000. Capital World Investors raised its stake in QUALCOMM by 57.2% in the third quarter. Capital World Investors now owns 11,400,000 shares of the wireless technology company’s stock valued at $780,900,000 after buying an additional 4,150,000 shares in the last quarter. BlackRock Fund Advisors raised its stake in QUALCOMM by 16.5% in the third quarter. BlackRock Fund Advisors now owns 21,432,143 shares of the wireless technology company’s stock valued at $1,468,102,000 after buying an additional 3,035,542 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in QUALCOMM by 10.5% in the third quarter. Bank of New York Mellon Corp now owns 19,196,781 shares of the wireless technology company’s stock valued at $1,314,981,000 after buying an additional 1,829,167 shares in the last quarter. Institutional investors and hedge funds own 79.20% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 54.00 on Monday. The firm has a market capitalization of $79.76 billion, a P/E ratio of 16.47 and a beta of 1.31. The company has a 50 day moving average of $60.21 and a 200 day moving average of $63.99. QUALCOMM Incorporated has a 1-year low of $45.40 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The business earned $5.99 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter last year, the firm posted $0.97 EPS. QUALCOMM’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that QUALCOMM Incorporated will post $4.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 1st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, February 27th. QUALCOMM’s dividend payout ratio is 64.63%.
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Several research firms have issued reports on QCOM. Sanford C. Bernstein set a $65.00 price target on shares of QUALCOMM and gave the stock a “hold” rating in a research report on Tuesday, February 7th. Canaccord Genuity restated a “buy” rating and issued a $76.00 price target on shares of QUALCOMM in a research report on Tuesday, February 7th. Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 31st. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of QUALCOMM in a research report on Monday, January 30th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of QUALCOMM in a research report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.66.
In other QUALCOMM news, EVP Cristiano R. Amon bought 18,815 shares of the stock in a transaction dated Friday, February 3rd. The shares were bought at an average cost of $53.13 per share, for a total transaction of $999,640.95. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Francis Murphy sold 9,344 shares of QUALCOMM stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $68.24, for a total value of $637,634.56. Following the sale, the senior vice president now owns 9,122 shares in the company, valued at $622,485.28. The disclosure for this sale can be found here. Insiders have sold a total of 60,758 shares of company stock worth $4,050,326 over the last ninety days. Insiders own 0.17% of the company’s stock.
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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