Insight Folios Inc lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,679 shares of the wireless technology company’s stock after selling 3,720 shares during the quarter. QUALCOMM accounts for 4.0% of Insight Folios Inc’s portfolio, making the stock its 2nd largest position. Insight Folios Inc’s holdings in QUALCOMM were worth $4,316,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Gamco Investors INC. ET AL lifted its holdings in QUALCOMM by 10.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 8,645 shares of the wireless technology company’s stock worth $585,000 after buying an additional 830 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in QUALCOMM by 649.1% during the 1st quarter. Balyasny Asset Management LLC now owns 41,776 shares of the wireless technology company’s stock worth $2,826,000 after buying an additional 36,199 shares during the last quarter. APG Asset Management N.V. lifted its holdings in QUALCOMM by 75.8% during the 1st quarter. APG Asset Management N.V. now owns 1,764,837 shares of the wireless technology company’s stock worth $119,391,000 after buying an additional 760,900 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in QUALCOMM by 11.9% during the 1st quarter. CWA Asset Management Group LLC now owns 111,078 shares of the wireless technology company’s stock worth $7,514,000 after buying an additional 11,831 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in QUALCOMM by 128.7% during the 1st quarter. CIBC World Markets Inc. now owns 285,313 shares of the wireless technology company’s stock worth $19,301,000 after buying an additional 160,550 shares during the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.
Shares of QCOM stock traded up $0.45 during mid-day trading on Friday, hitting $129.03. 6,626,992 shares of the stock traded hands, compared to its average volume of 10,243,579. QUALCOMM Incorporated has a twelve month low of $58.00 and a twelve month high of $132.42. The firm has a market cap of $145.58 billion, a price-to-earnings ratio of 54.44, a price-to-earnings-growth ratio of 1.79 and a beta of 1.36. The company’s 50-day simple moving average is $117.35 and its 200-day simple moving average is $95.14. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.15. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that QUALCOMM Incorporated will post 3.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio (DPR) is presently 91.55%.
A number of research analysts have commented on QCOM shares. Royal Bank of Canada increased their target price on QUALCOMM from $81.00 to $106.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price target on QUALCOMM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, September 16th. KeyCorp raised their price target on QUALCOMM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Bank of America raised their price target on QUALCOMM from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company raised QUALCOMM from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $90.00 to $120.00 in a report on Tuesday, September 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $121.58.
In related news, CFO Akash J. Palkhiwala sold 3,925 shares of QUALCOMM stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $102.42, for a total value of $401,998.50. Following the transaction, the chief financial officer now directly owns 17,790 shares in the company, valued at approximately $1,822,051.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald J. Rosenberg sold 10,720 shares of QUALCOMM stock in a transaction on Monday, October 5th. The stock was sold at an average price of $118.27, for a total value of $1,267,854.40. Following the completion of the transaction, the executive vice president now owns 9,292 shares in the company, valued at $1,098,964.84. The disclosure for this sale can be found here. Insiders sold a total of 43,720 shares of company stock worth $5,348,451 over the last 90 days. Insiders own 0.12% of the company’s stock.
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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