Northern Trust Corp raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,519,161 shares of the wireless technology company’s stock after acquiring an additional 499,531 shares during the quarter. Northern Trust Corp owned about 1.32% of QUALCOMM worth $1,077,848,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. United Asset Strategies Inc. bought a new position in shares of QUALCOMM in the second quarter valued at approximately $5,249,000. Stephens Inc. AR raised its position in shares of QUALCOMM by 10.8% in the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after purchasing an additional 11,232 shares during the period. Stifel Financial Corp raised its position in shares of QUALCOMM by 47.4% in the first quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock valued at $168,002,000 after purchasing an additional 943,026 shares during the period. Private Asset Management Inc. raised its position in shares of QUALCOMM by 0.5% in the second quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock valued at $40,696,000 after purchasing an additional 4,028 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of QUALCOMM by 3.6% in the second quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock valued at $257,798,000 after purchasing an additional 160,226 shares during the period. Hedge funds and other institutional investors own 76.66% of the company’s stock.
QCOM has been the topic of a number of recent analyst reports. Canaccord Genuity lifted their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Finally, UBS dropped their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $66.02.
QUALCOMM Incorporated (QCOM) traded up $0.25 during midday trading on Thursday, reaching $65.23. The company had a trading volume of 8,754,583 shares, compared to its average volume of 11,392,799. QUALCOMM Incorporated has a twelve month low of $48.92 and a twelve month high of $70.24. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $96,030.00, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the business earned $1.28 EPS. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.
In other news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 29,427 shares of company stock valued at $1,827,995. 0.17% of the stock is currently owned by insiders.
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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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