Fifth Third Bancorp lessened its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 495,743 shares of the wireless technology company’s stock after selling 33,371 shares during the period. Fifth Third Bancorp’s holdings in QUALCOMM were worth $35,708,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of QUALCOMM by 3.3% in the third quarter. Alliancebernstein L.P. now owns 4,215,124 shares of the wireless technology company’s stock valued at $303,615,000 after buying an additional 134,469 shares during the last quarter. Stephens Inc. AR raised its position in shares of QUALCOMM by 13.3% in the second quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock valued at $5,741,000 after buying an additional 11,974 shares during the last quarter. Asset Dedication LLC raised its position in shares of QUALCOMM by 11.3% in the second quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock valued at $493,000 after buying an additional 894 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of QUALCOMM by 1.5% in the second quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock valued at $39,943,000 after buying an additional 10,759 shares during the last quarter. Finally, Argent Trust Co increased its position in QUALCOMM by 264.6% during the second quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock worth $2,632,000 after purchasing an additional 34,036 shares during the last quarter. 89.63% of the stock is owned by institutional investors and hedge funds.
In other news, President Cristiano R. Amon sold 88,625 shares of the stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total value 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 $3,994,076.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 853 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $63.50, for a total transaction of $54,165.50. Following the completion of the sale, the executive vice president now directly owns 4,344 shares of the company’s stock, valued at approximately $275,844. The disclosure for this sale can be found here. Insiders sold 114,952 shares of company stock valued at $7,665,408 in the last three months. Company insiders own 0.17% of the company’s stock.
Several equities analysts recently commented 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 for the company. Deutsche Bank dropped their price target on shares of QUALCOMM to $65.00 and set a “hold” rating for the company in a research report on Thursday, November 8th. Royal Bank of Canada upped their price target on shares of QUALCOMM to $77.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. Nomura upped their price target on shares of QUALCOMM from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Finally, Bank of America dropped their price target on shares of QUALCOMM from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $70.44.
QUALCOMM stock opened at $55.99 on Friday. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50. The firm has a market capitalization of $69.23 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.41 and a beta of 1.66. 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 (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts anticipate that QUALCOMM, Inc. will post 3.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s payout ratio is currently 77.74%.
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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