Notis McConarty Edward lessened its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,845 shares of the wireless technology company’s stock after selling 1,200 shares during the quarter. Notis McConarty Edward’s holdings in QUALCOMM were worth $1,334,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. FMR LLC grew its stake in QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after acquiring an additional 11,387,347 shares during the period. Capital International Investors grew its stake in QUALCOMM by 41.8% in the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after acquiring an additional 6,322,645 shares during the period. Veritas Asset Management LLP grew its stake in QUALCOMM by 68.4% in the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after acquiring an additional 5,453,631 shares during the period. Maverick Capital Ltd. acquired a new position in QUALCOMM in the second quarter valued at about $210,548,000. Finally, Parnassus Investments CA grew its stake in QUALCOMM by 62.4% in the third quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after acquiring an additional 3,000,000 shares during the period. Institutional investors and hedge funds own 78.11% of the company’s stock.
QUALCOMM, Inc. (NASDAQ QCOM) opened at $62.81 on Tuesday. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $92,980.00, a P/E ratio of -25.64, a P/E/G ratio of 1.96 and a beta of 1.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.63%. QUALCOMM’s dividend payout ratio is -93.06%.
Several research analysts have recently weighed in on QCOM shares. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective for the company in a research report on Monday, November 13th. Canaccord Genuity upped 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. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Nomura raised QUALCOMM from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. Finally, Mizuho reaffirmed a “buy” rating and set a $75.00 price objective (up from $65.00) on shares of QUALCOMM in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. QUALCOMM presently has an average rating of “Hold” and an average target price of $68.25.
In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the sale, the executive vice president now owns 11,116 shares in the company, valued at $714,981.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders sold 45,812 shares of company stock worth $2,996,776 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.
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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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