Bridgeway Capital Management Inc. lowered its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 14.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 216,800 shares of the wireless technology company’s stock after selling 35,300 shares during the quarter. Bridgeway Capital Management Inc.’s holdings in QUALCOMM were worth $15,616,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its holdings in shares of QUALCOMM by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,215,124 shares of the wireless technology company’s stock valued at $303,615,000 after purchasing an additional 134,469 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of QUALCOMM by 13.3% in the 2nd quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock valued at $5,741,000 after purchasing an additional 11,974 shares during the last quarter. Asset Dedication LLC boosted its holdings in shares of QUALCOMM by 11.3% in the 2nd quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock valued at $493,000 after purchasing an additional 894 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of QUALCOMM by 1.5% in the 2nd quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock valued at $39,943,000 after purchasing an additional 10,759 shares during the last quarter. Finally, Argent Trust Co boosted its holdings in shares of QUALCOMM by 264.6% in the 2nd quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock valued at $2,632,000 after purchasing an additional 34,036 shares during the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.
In related news, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction on Monday, October 29th. The shares were sold at an average price of $63.50, for a total transaction of $54,165.50. Following the transaction, the executive vice president now owns 4,344 shares in the company, valued at approximately $275,844. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 854 shares of QUALCOMM stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $72.18, for a total transaction of $61,641.72. Following the transaction, the executive vice president now owns 5,197 shares in the company, valued at approximately $375,119.46. The disclosure for this sale can be found here. Insiders have sold a total of 96,629 shares of company stock worth $6,561,814 in the last 90 days. Company insiders own 0.17% of the company’s stock.
A number of equities analysts have weighed in on the stock. Deutsche Bank lifted their price target on shares of QUALCOMM to $70.00 and gave the company a “hold” rating in a report on Wednesday, September 19th. KeyCorp assumed coverage on shares of QUALCOMM in a report on Tuesday, September 25th. They issued a “sector weight” rating on the stock. BidaskClub upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Canaccord Genuity decreased their price target on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. Finally, Tigress Financial reiterated a “buy” rating on shares of QUALCOMM in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.44.
NASDAQ:QCOM opened at $58.11 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.40 and a debt-to-equity ratio of 16.56. The firm has a market cap of $67.36 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.69. QUALCOMM, Inc. has a twelve month low of $48.56 and a twelve month high of $76.50.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.54 billion. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Sell-side analysts forecast that QUALCOMM, Inc. will post 3.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 annualized dividend and a dividend yield of 4.27%. QUALCOMM’s payout ratio is 77.74%.
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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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