Brown Advisory Inc. reduced its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,251 shares of the wireless technology company’s stock after selling 24,846 shares during the period. Brown Advisory Inc.’s holdings in QUALCOMM were worth $12,983,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of QUALCOMM by 13.4% in the second quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock worth $1,170,308,000 after acquiring an additional 2,463,511 shares during the last quarter. Parnassus Investments CA boosted its position in shares of QUALCOMM by 3.6% in the second quarter. Parnassus Investments CA now owns 10,150,000 shares of the wireless technology company’s stock worth $569,618,000 after acquiring an additional 350,000 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of QUALCOMM by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 9,687,604 shares of the wireless technology company’s stock worth $543,669,000 after acquiring an additional 323,005 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of QUALCOMM by 4.3% in the third quarter. Pictet Asset Management Ltd. now owns 5,973,337 shares of the wireless technology company’s stock worth $430,259,000 after acquiring an additional 247,940 shares during the last quarter. Finally, Waddell & Reed Financial Inc. boosted its position in shares of QUALCOMM by 18.8% in the second quarter. Waddell & Reed Financial Inc. now owns 5,029,933 shares of the wireless technology company’s stock worth $282,280,000 after acquiring an additional 794,924 shares during the last quarter. 89.45% of the stock is currently owned by institutional investors.
QCOM opened at $58.26 on Monday. The company has a market cap of $70.62 billion, a PE ratio of 18.26, a PEG ratio of 1.44 and a beta of 1.69. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50. The company has a debt-to-equity ratio of 16.56, a quick ratio of 1.40 and a current ratio of 1.55.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.20. The company 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 last year, the firm posted $0.92 earnings per share. Equities research analysts predict that QUALCOMM, Inc. will post 3.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.26%. QUALCOMM’s dividend payout ratio is currently 77.74%.
A number of research analysts have weighed in on QCOM shares. Barclays started coverage on shares of QUALCOMM in a research report on Thursday, September 13th. They set an “overweight” rating and a $95.00 price target on the stock. Deutsche Bank reduced their price target on shares of QUALCOMM to $65.00 and set a “hold” rating on the stock in a research report on Thursday, November 8th. Royal Bank of Canada lifted their price target on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a research report on Friday, September 7th. Nomura lifted their price target on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 4th. Finally, Bank of America reduced their price target on shares of QUALCOMM from $70.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $70.44.
In related news, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $55.22, for a total value of $347,720.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cristiano R. Amon sold 88,625 shares of QUALCOMM stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the completion of the sale, the president now owns 58,045 shares of the company’s stock, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. Insiders have sold 96,629 shares of company stock worth $6,561,814 in the last quarter. Insiders own 0.17% of the company’s stock.
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QUALCOMM Company Profile
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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