CIBC Asset Management Inc lessened its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,725 shares of the wireless technology company’s stock after selling 1,016 shares during the period. CIBC Asset Management Inc’s holdings in QUALCOMM were worth $11,890,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of QUALCOMM by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after acquiring an additional 1,537,645 shares during the period. FMR LLC lifted its stake in 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in QUALCOMM by 2.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock valued at $1,330,946,000 after purchasing an additional 498,324 shares during the last quarter. Capital International Investors lifted its stake in 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 last quarter. Finally, Northern Trust Corp lifted its stake in QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after purchasing an additional 499,531 shares during the last quarter. 78.11% of the stock is owned by institutional investors.
In other news, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares in the company, valued at $2,810,050. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at $709,484.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,812 shares of company stock valued at $2,996,776. 0.24% of the stock is currently owned by corporate insiders.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the prior year, the company posted $1.19 earnings per share. QUALCOMM’s revenue for the quarter was up 1.7% compared to the same quarter last year. research analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently -93.06%.
Several equities analysts recently commented on QCOM shares. Canaccord Genuity increased their price objective on shares of QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Royal Bank of Canada increased their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Vetr downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price objective for the company. in a research note on Thursday, November 23rd. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Nomura raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and increased their price objective for the company from $58.00 to $75.00 in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $68.25.
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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