Assetmark Inc. lowered its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,347 shares of the wireless technology company’s stock after selling 3,135 shares during the quarter. Assetmark Inc.’s holdings in QUALCOMM were worth $8,092,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in QCOM. Sterling Investment Advisors Ltd. increased its holdings in shares of QUALCOMM by 195.0% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 1,549 shares of the wireless technology company’s stock valued at $112,000 after purchasing an additional 1,024 shares in the last quarter. MinichMacGregor Wealth Management LLC increased its holdings in shares of QUALCOMM by 170.9% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock valued at $134,000 after purchasing an additional 1,167 shares in the last quarter. Kiley Juergens Wealth Management LLC increased its holdings in shares of QUALCOMM by 1,760.0% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock valued at $133,000 after purchasing an additional 1,760 shares in the last quarter. Enterprise Financial Services Corp increased its holdings in shares of QUALCOMM by 151.8% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock valued at $143,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of QUALCOMM in the 3rd quarter valued at about $152,000. Institutional investors own 89.63% of the company’s stock.
In other QUALCOMM news, EVP Alexander H. Rogers sold 854 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $72.18, for a total transaction of $61,641.72. Following the completion of the transaction, the executive vice president now directly owns 5,197 shares in the company, valued at approximately $375,119.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 853 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $275,844. The disclosure for this sale can be found here. Insiders have sold a total of 114,952 shares of company stock valued at $7,665,408 over the last 90 days. 0.17% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $70.00 in a report on Monday, August 20th. Tigress Financial reiterated a “buy” rating on shares of QUALCOMM in a report on Friday, September 28th. Macquarie upgraded shares of QUALCOMM from a “neutral” rating to an “outperform” rating and increased their price target for the company from $65.00 to $84.00 in a report on Tuesday, September 4th. KeyCorp assumed coverage on shares of QUALCOMM in a report on Tuesday, September 25th. They issued a “sector weight” rating for the company. Finally, BidaskClub upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM has an average rating of “Buy” and a consensus target price of $70.44.
NASDAQ:QCOM opened at $55.99 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 16.56. QUALCOMM, Inc. has a twelve month low of $48.56 and a twelve month high of $76.50. The stock has a market cap of $69.98 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.66.
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. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, research 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. Shareholders of record on Thursday, December 6th will be issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, December 5th. This represents a $2.48 annualized dividend and a yield of 4.43%. QUALCOMM’s dividend payout ratio (DPR) is currently 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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