Pekin Singer Strauss Asset Management IL cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 54.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,728 shares of the wireless technology company’s stock after selling 117,266 shares during the quarter. QUALCOMM makes up 1.3% of Pekin Singer Strauss Asset Management IL’s portfolio, making the stock its 21st largest holding. Pekin Singer Strauss Asset Management IL’s holdings in QUALCOMM were worth $7,111,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of the company. Xact Kapitalforvaltning AB grew its position in shares of QUALCOMM by 3.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 289,045 shares of the wireless technology company’s stock worth $16,221,000 after buying an additional 9,299 shares during the period. NN Investment Partners Holdings N.V. grew its position in shares of QUALCOMM by 5.7% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 911,350 shares of the wireless technology company’s stock worth $51,146,000 after buying an additional 49,331 shares during the period. Covenant Asset Management LLC boosted its stake in QUALCOMM by 8.4% in the 2nd quarter. Covenant Asset Management LLC now owns 25,772 shares of the wireless technology company’s stock worth $1,446,000 after purchasing an additional 2,000 shares in the last quarter. Guardian Investment Management bought a new position in QUALCOMM in the 2nd quarter worth about $678,000. Finally, Bristol Advisors LLC boosted its stake in QUALCOMM by 48.8% in the 2nd quarter. Bristol Advisors LLC now owns 84,100 shares of the wireless technology company’s stock worth $4,720,000 after purchasing an additional 27,600 shares in the last quarter. 76.93% of the stock is owned by institutional investors.
In other news, EVP Alexander H. Rogers sold 854 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $72.18, for a total value of $61,641.72. Following the transaction, the executive vice president now owns 5,197 shares in the company, valued at approximately $375,119.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cristiano R. Amon sold 88,625 shares of the stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the completion of the transaction, the president now owns 58,045 shares in the company, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. Insiders have sold a total of 91,638 shares of company stock worth $6,302,079 in the last 90 days. Company insiders own 0.17% of the company’s stock.
QCOM opened at $56.72 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67. The stock has a market cap of $92.86 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.96 and a beta of 1.69. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. The business had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.54 billion. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 19.92%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. As a group, analysts expect that QUALCOMM, Inc. will post 2.8 EPS for the current year.
QUALCOMM declared that its Board of Directors has authorized a stock buyback program on Thursday, July 26th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the wireless technology company to buy up to 34.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Wednesday, December 5th. QUALCOMM’s dividend payout ratio is currently 77.74%.
A number of equities analysts recently issued reports on the stock. BidaskClub cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Thursday. Canaccord Genuity dropped their price target on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, September 25th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen upped their price target on shares of QUALCOMM from $58.00 to $64.00 and gave the stock a “market perform” rating in a research note on Thursday, July 26th. Finally, Deutsche Bank upped their price target on shares of QUALCOMM to $60.00 and gave the stock a “hold” rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $70.86.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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