Thompson Investment Management Inc. cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,248 shares of the wireless technology company’s stock after selling 2,675 shares during the period. QUALCOMM comprises approximately 2.0% of Thompson Investment Management Inc.’s portfolio, making the stock its 7th largest position. Thompson Investment Management Inc.’s holdings in QUALCOMM were worth $10,088,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of QCOM. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock worth $7,599,444,000 after purchasing an additional 2,296,163 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of QUALCOMM by 49.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock valued at $2,672,850,000 after acquiring an additional 11,686,131 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of QUALCOMM by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 25,383,855 shares of the wireless technology company’s stock valued at $1,930,950,000 after acquiring an additional 2,035,743 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of QUALCOMM by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock valued at $1,880,201,000 after acquiring an additional 83,270 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of QUALCOMM by 1.9% in the 2nd quarter. Northern Trust Corp now owns 15,783,756 shares of the wireless technology company’s stock valued at $1,200,669,000 after acquiring an additional 301,087 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
In other news, President Cristiano R. Amon sold 8,611 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $80.03, for a total value of $689,138.33. Following the completion of the sale, the president now owns 50,434 shares in the company, valued at approximately $4,036,233.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark D. Mclaughlin bought 2,705 shares of QUALCOMM stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average price of $73.84 per share, with a total value of $199,737.20. Following the purchase, the director now owns 5,220 shares in the company, valued at $385,444.80. The disclosure for this purchase can be found here. In the last quarter, insiders sold 19,118 shares of company stock valued at $1,477,392. Company insiders own 0.11% of the company’s stock.
QCOM stock traded up $4.05 during midday trading on Friday, reaching $94.03. 16,371,200 shares of the company’s stock traded hands, compared to its average volume of 14,163,118. The company has a market cap of $103.89 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 2.03 and a beta of 1.59. The firm’s fifty day moving average price is $78.64 and its 200-day moving average price is $76.41. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $94.11.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the previous year, the business posted $0.90 EPS. QUALCOMM’s quarterly revenue was down 17.2% on a year-over-year basis. Analysts forecast that QUALCOMM, Inc. will post 3.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.62 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 annualized dividend and a dividend yield of 2.64%. QUALCOMM’s payout ratio is 87.32%.
QCOM has been the subject of several research analyst reports. Argus lifted their price objective on shares of QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity lifted their price objective on shares of QUALCOMM from $87.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank lowered their price objective on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price objective on shares of QUALCOMM to $88.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Daiwa Capital Markets started coverage on shares of QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.18.
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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