Exane Derivatives raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.1% during the third quarter, Holdings Channel reports. The institutional investor owned 6,626 shares of the wireless technology company’s stock after buying an additional 1,199 shares during the period. Exane Derivatives’ holdings in QUALCOMM were worth $454,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Capital Research Global Investors purchased a new stake in shares of QUALCOMM during the second quarter valued at $774,968,000. Capital World Investors purchased a new stake in shares of QUALCOMM during the second quarter valued at $388,383,000. FMR LLC boosted its stake in shares of QUALCOMM by 9.2% in the second quarter. FMR LLC now owns 56,983,582 shares of the wireless technology company’s stock valued at $3,052,610,000 after buying an additional 4,823,120 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of QUALCOMM by 23.4% in the second quarter. Franklin Resources Inc. now owns 9,300,593 shares of the wireless technology company’s stock valued at $498,233,000 after buying an additional 1,761,425 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of QUALCOMM during the second quarter valued at $87,048,000. 78.41% of the stock is owned by institutional investors and hedge funds.
QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.46% during midday trading on Wednesday, reaching $65.13. The company had a trading volume of 15,883,201 shares. The firm has a market capitalization of $96.19 billion, a price-to-earnings ratio of 17.09 and a beta of 1.35. The stock’s 50 day moving average is $66.60 and its 200 day moving average is $64.18. QUALCOMM Incorporated has a 12-month low of $42.24 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.15. QUALCOMM had a return on equity of 19.31% and a net margin of 24.22%. The firm earned $9.17 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 68.2% compared to the same quarter last year. Equities research analysts expect that QUALCOMM Incorporated will post $4.76 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 paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $2.12 dividend on an annualized basis and a yield of 3.26%. QUALCOMM’s dividend payout ratio (DPR) is presently 55.64%.
Several brokerages have weighed in on QCOM. Brean Capital reissued a “hold” rating on shares of QUALCOMM in a report on Wednesday, December 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $81.00 price target on shares of QUALCOMM in a research note on Thursday, January 12th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Wednesday. Citigroup Inc. initiated coverage on QUALCOMM in a research note on Wednesday, December 21st. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Vetr raised QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $74.42 price target for the company in a research note on Wednesday, January 11th. Eighteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $67.92.
In other QUALCOMM news, Director Stiles Barbara Alexander sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $68.52, for a total value of $1,507,440.00. Following the completion of the sale, the director now owns 2,440 shares of the company’s stock, valued at $167,188.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $67.72, for a total value of $135,440.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by company 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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