Public Employees Retirement Association of Colorado boosted its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,660 shares of the wireless technology company’s stock after buying an additional 17,068 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in QUALCOMM were worth $17,904,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in QCOM. FMR LLC boosted its position in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares during the period. Capital International Investors boosted its position in shares of QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after purchasing an additional 6,322,645 shares during the period. Veritas Asset Management LLP boosted its position in shares of QUALCOMM by 68.4% in the 3rd quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after purchasing an additional 5,453,631 shares during the period. Maverick Capital Ltd. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $210,548,000. Finally, Parnassus Investments CA boosted its position in shares of QUALCOMM by 62.4% in the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after purchasing an additional 3,000,000 shares during the period. 78.11% of the stock is owned by institutional investors and hedge funds.
Shares of QUALCOMM, Inc. (QCOM) opened at $62.81 on Tuesday. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. The firm has a market capitalization of $92,980.00, a PE ratio of -25.64, a PEG ratio of 1.96 and a beta of 1.35.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is -93.06%.
In related news, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the transaction, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $66.94, for a total value of $78,989.20. The disclosure for this sale can be found here. Insiders sold a total of 45,812 shares of company stock worth $2,996,776 over the last three months. 0.24% of the stock is owned by company insiders.
A number of equities research analysts have commented on QCOM shares. Canaccord Genuity raised their price objective on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Royal Bank of Canada raised their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Vetr lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price objective for the company. in a research report on Thursday, November 23rd. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Nomura upgraded QUALCOMM from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and a consensus target price of $68.25.
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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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