Seizert Capital Partners LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 701,890 shares of the wireless technology company’s stock after acquiring an additional 27,222 shares during the period. Seizert Capital Partners LLC’s holdings in QUALCOMM were worth $40,246,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in QUALCOMM by 589.4% in the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after purchasing an additional 5,054,642 shares during the period. Pictet Asset Management Ltd. grew its position in QUALCOMM by 73.7% in the 1st quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock worth $180,788,000 after purchasing an additional 1,337,883 shares during the period. Swiss National Bank grew its position in QUALCOMM by 27.5% in the 1st quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock worth $300,070,000 after purchasing an additional 1,128,700 shares during the period. BRILLIANCE ASSET MANAGEMENT Ltd bought a new stake in QUALCOMM in the 1st quarter worth approximately $53,884,000. Finally, Parnassus Investments CA grew its position in QUALCOMM by 40.0% in the 1st quarter. Parnassus Investments CA now owns 3,159,000 shares of the wireless technology company’s stock worth $181,137,000 after purchasing an additional 902,000 shares during the period. Institutional investors own 77.03% of the company’s stock.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the business’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 transaction of $1,279,499.52. Following the transaction, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 28,995 shares of company stock worth $1,587,390 over the last three months. Insiders own 0.17% of the company’s stock.
A number of equities research analysts have commented on QCOM shares. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.62 target price for the company in a research report on Monday, May 29th. Stifel Nicolaus boosted their price objective on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 26th. Canaccord Genuity reissued a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a research report on Wednesday, June 28th. Mizuho reissued a “buy” rating and set a $65.00 price objective on shares of QUALCOMM in a research report on Friday, July 21st. Finally, Morgan Stanley boosted their price objective on shares of QUALCOMM from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $63.96.
Shares of QUALCOMM Incorporated (QCOM) traded up 1.38% during trading on Friday, reaching $52.19. 13,177,887 shares of the company’s stock were exchanged. The company has a 50 day moving average of $52.11 and a 200 day moving average of $55.07. The stock has a market cap of $77.04 billion, a P/E ratio of 19.99 and a beta of 1.29. QUALCOMM Incorporated has a 12-month low of $48.92 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. Equities research analysts anticipate 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. Stockholders 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 dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
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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