Assetmark Inc. cut its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,347 shares of the wireless technology company’s stock after selling 3,135 shares during the period. Assetmark Inc.’s holdings in QUALCOMM were worth $8,092,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. acquired a new stake in shares of QUALCOMM in the third quarter worth approximately $733,000. Cpwm LLC acquired a new stake in shares of QUALCOMM in the third quarter worth approximately $2,897,000. InterOcean Capital LLC boosted its position in shares of QUALCOMM by 5.2% in the third quarter. InterOcean Capital LLC now owns 294,075 shares of the wireless technology company’s stock worth $21,182,000 after acquiring an additional 14,598 shares during the last quarter. Redmond Asset Management LLC boosted its position in shares of QUALCOMM by 18.9% in the third quarter. Redmond Asset Management LLC now owns 6,300 shares of the wireless technology company’s stock worth $454,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Kepos Capital LP acquired a new stake in shares of QUALCOMM in the third quarter worth approximately $606,000. 89.63% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. Barclays assumed coverage on shares of QUALCOMM in a report on Thursday, September 13th. They issued an “overweight” rating and a $95.00 price target on the stock. Deutsche Bank cut their price target on shares of QUALCOMM to $65.00 and set a “hold” rating on the stock in a report on Thursday, November 8th. Royal Bank of Canada raised their price target on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a report on Friday, September 7th. Nomura raised their price target on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 4th. Finally, Bank of America cut their price target on shares of QUALCOMM from $70.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $70.44.
In other news, President Cristiano R. Amon sold 88,625 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the sale, the president now owns 58,045 shares in the company, valued at $3,994,076.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $55.22, for a total transaction of $347,720.34. The disclosure for this sale can be found here. Insiders have sold 114,952 shares of company stock worth $7,665,408 in the last quarter. Insiders own 0.17% of the company’s stock.
NASDAQ QCOM opened at $55.99 on Friday. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $76.50. The company has a debt-to-equity ratio of 16.56, a quick ratio of 1.40 and a current ratio of 1.55. The company has a market capitalization of $69.98 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.66.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. The firm had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.54 billion. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. QUALCOMM’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Equities research analysts predict that QUALCOMM, Inc. will post 3.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.43%. QUALCOMM’s dividend payout ratio is currently 77.74%.
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QUALCOMM Company Profile
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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