Oregon Public Employees Retirement Fund grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 169.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 245,006 shares of the wireless technology company’s stock after acquiring an additional 153,926 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in QUALCOMM were worth $37,324,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of QUALCOMM by 5.4% in the fourth quarter. BlackRock Inc. now owns 79,999,443 shares of the wireless technology company’s stock valued at $12,187,113,000 after purchasing an additional 4,097,822 shares in the last quarter. FMR LLC raised its stake in shares of QUALCOMM by 3.4% in the fourth quarter. FMR LLC now owns 56,956,778 shares of the wireless technology company’s stock valued at $8,676,796,000 after purchasing an additional 1,855,061 shares in the last quarter. Alliancebernstein L.P. raised its stake in QUALCOMM by 31.2% during the fourth quarter. Alliancebernstein L.P. now owns 13,277,733 shares of the wireless technology company’s stock worth $2,022,730,000 after acquiring an additional 3,158,229 shares in the last quarter. Nuveen Asset Management LLC raised its stake in QUALCOMM by 9.2% during the third quarter. Nuveen Asset Management LLC now owns 10,409,162 shares of the wireless technology company’s stock worth $1,224,950,000 after acquiring an additional 873,223 shares in the last quarter. Finally, Morgan Stanley raised its stake in QUALCOMM by 12.9% during the third quarter. Morgan Stanley now owns 6,489,410 shares of the wireless technology company’s stock worth $763,673,000 after acquiring an additional 740,296 shares in the last quarter. 74.76% of the stock is owned by institutional investors.
In other news, President Cristiano R. Amon sold 73,220 shares of QUALCOMM stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $148.72, for a total transaction of $10,889,278.40. Following the transaction, the president now owns 50,753 shares in the company, valued at approximately $7,547,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 35,102 shares of QUALCOMM stock in a transaction dated Tuesday, December 8th. The shares were sold at an average price of $157.17, for a total value of $5,516,981.34. Following the transaction, the executive vice president now owns 64,365 shares in the company, valued at approximately $10,116,247.05. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.07. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter last year, the business earned $0.80 earnings per share. The company’s revenue was up 62.2% compared to the same quarter last year. On average, research analysts anticipate that QUALCOMM Incorporated will post 6.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 25th. Shareholders of record on Thursday, March 4th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Wednesday, March 3rd. QUALCOMM’s dividend payout ratio (DPR) is currently 77.84%.
QCOM has been the subject of several recent analyst reports. UBS Group increased their price objective on QUALCOMM from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Barclays increased their price objective on QUALCOMM from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Standpoint Research lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Friday, December 11th. Robert W. Baird initiated coverage on QUALCOMM in a research note on Tuesday, December 22nd. They set an “outperform” rating and a $200.00 price objective for the company. Finally, Argus increased their price objective on QUALCOMM from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $157.81.
QUALCOMM Company Profile
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
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