AMG Funds LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,953 shares of the wireless technology company’s stock after buying an additional 449 shares during the period. QUALCOMM comprises approximately 1.2% of AMG Funds LLC’s portfolio, making the stock its 26th largest position. AMG Funds LLC’s holdings in QUALCOMM were worth $2,176,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Sii Investments Inc. WI raised its position in QUALCOMM by 2.4% in the fourth quarter. Sii Investments Inc. WI now owns 14,670 shares of the wireless technology company’s stock valued at $955,000 after buying an additional 348 shares during the period. Asset Management One Co. Ltd. raised its position in QUALCOMM by 1,097.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,586,775 shares of the wireless technology company’s stock valued at $168,860,000 after buying an additional 2,370,783 shares during the period. Dymon Asia Capital Ltd. acquired a new position in QUALCOMM during the fourth quarter valued at approximately $1,408,000. Aviva PLC increased its position in QUALCOMM by 5.6% in the fourth quarter. Aviva PLC now owns 963,445 shares of the wireless technology company’s stock valued at $62,846,000 after buying an additional 51,300 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $231,000. Hedge funds and other institutional investors own 76.76% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.62% during mid-day trading on Friday, reaching $52.62. 8,677,902 shares of the company’s stock were exchanged. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62. The stock’s 50-day moving average is $55.44 and its 200-day moving average is $56.02. The stock has a market cap of $77.67 billion, a price-to-earnings ratio of 20.15 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 earnings per share. On average, equities analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
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Several equities research analysts have recently weighed in on QCOM shares. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 target price for the company in a research note on Wednesday, June 7th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $61.00 price objective (down previously from $63.00) on shares of QUALCOMM in a research report on Thursday, May 4th. Wells Fargo & Company restated an “outperform” rating and issued a $75.00 price objective on shares of QUALCOMM in a research report on Saturday, April 22nd. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price objective on shares of QUALCOMM in a research report on Monday, April 17th. Finally, Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and an average target price of $63.96.
In other news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the transaction, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michelle M. Sterling sold 5,509 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,802 shares of company stock valued at $3,544,381. 0.17% of the stock is owned by insiders.
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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