Rockland Trust Co. decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 19.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,785 shares of the wireless technology company’s stock after selling 4,636 shares during the period. Rockland Trust Co.’s holdings in QUALCOMM were worth $1,499,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of QCOM. Bessemer Group Inc. grew its holdings in shares of QUALCOMM by 2.5% during the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after purchasing an additional 233 shares during the last quarter. Cincinnati Financial Corp grew its holdings in shares of QUALCOMM by 4.9% during the 2nd quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock valued at $72,837,000 after purchasing an additional 45,000 shares during the last quarter. Jennison Associates LLC boosted its position in QUALCOMM by 996.4% during the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after buying an additional 13,893,238 shares during the period. Nordea Investment Management AB boosted its position in QUALCOMM by 65.1% during the 1st quarter. Nordea Investment Management AB now owns 436,913 shares of the wireless technology company’s stock valued at $24,915,000 after buying an additional 172,283 shares during the period. Finally, FLC Capital Advisors boosted its position in QUALCOMM by 36.1% during the 2nd quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock valued at $578,000 after buying an additional 2,000 shares during the period. 78.45% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:QCOM opened at $76.70 on Friday. The company has a 50-day moving average price of $76.78 and a 200-day moving average price of $73.67. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $90.34. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. The stock has a market cap of $90.38 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.77 and a beta of 1.59.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same period last year, the company posted $1.01 EPS. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities analysts forecast that QUALCOMM, Inc. will post 2.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.23%. QUALCOMM’s payout ratio is 77.74%.
Several equities research analysts have weighed in on QCOM shares. TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price target on shares of QUALCOMM in a research report on Monday, July 22nd. Morgan Stanley set a $89.00 price target on shares of QUALCOMM and gave the company a “buy” rating in a research report on Wednesday, August 21st. DZ Bank reissued a “sell” rating on shares of QUALCOMM in a research report on Friday, August 2nd. Finally, BidaskClub raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $79.68.
In other QUALCOMM news, Director Mark D. Mclaughlin purchased 2,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the purchase, the director now directly owns 5,220 shares in the company, valued at $385,444.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin L. Polek sold 1,478 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $70.36, for a total transaction of $103,992.08. Following the completion of the transaction, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,985 shares of company stock valued at $892,245. 0.11% of the stock is owned by company insiders.
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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