Raymond James Trust N.A. boosted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 144,546 shares of the wireless technology company’s stock after purchasing an additional 1,476 shares during the period. Raymond James Trust N.A.’s holdings in QUALCOMM were worth $9,254,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings 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 acquiring an additional 11,387,347 shares during the last quarter. Capital International Investors boosted its holdings 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 acquiring an additional 6,322,645 shares during the last quarter. Veritas Asset Management LLP boosted its holdings 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 acquiring an additional 5,453,631 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at $210,548,000. Finally, Parnassus Investments CA boosted its holdings 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 acquiring an additional 3,000,000 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors.
Several analysts have recently commented on the stock. BidaskClub downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. KeyCorp increased their price target on shares of QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Northland Securities reissued a “buy” rating and set a $75.00 price target on shares of QUALCOMM in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $68.25.
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 Zacks’ consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. equities analysts predict that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is -93.06%.
In other news, EVP James H. Thompson sold 50,126 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the sale, the executive vice president now directly owns 136,482 shares in the company, valued at $8,551,962.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alexander H. Rogers sold 919 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total transaction of $59,110.08. Following the completion of the sale, the executive vice president now owns 11,116 shares of the company’s stock, valued at $714,981.12. The disclosure for this sale can be found here. Insiders sold 95,938 shares of company stock valued at $6,137,671 over the last quarter. Company insiders own 0.24% of the company’s stock.
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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