Vanguard Group Inc. Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Vanguard Group Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,484,572 shares of the wireless technology company’s stock after acquiring an additional 1,537,645 shares during the quarter. Vanguard Group Inc. owned approximately 7.01% of QUALCOMM worth $5,714,418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp lifted its position in shares of QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after buying an additional 499,531 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of QUALCOMM by 3.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock worth $537,426,000 after buying an additional 288,413 shares during the last quarter. Veritas Asset Management LLP bought a new position in shares of QUALCOMM in the 2nd quarter worth about $440,415,000. Legal & General Group Plc lifted its position in shares of QUALCOMM by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock worth $436,076,000 after buying an additional 137,733 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of QUALCOMM by 6.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock worth $405,008,000 after buying an additional 439,180 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up $0.25 on Thursday, hitting $65.23. 8,754,583 shares of the company’s stock traded hands, compared to its average volume of 11,392,799. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the company posted $1.28 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.

A number of research analysts have recently issued reports on the stock. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research report on Thursday, August 24th. UBS cut their price objective 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. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Finally, Wells Fargo & Company downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.02.

In related news, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,427 shares of company stock valued at $1,827,995. 0.17% of the stock is currently owned by corporate insiders.

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About QUALCOMM

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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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