California State Teachers Retirement System Decreases Stake in QUALCOMM Incorporated (QCOM)
California State Teachers Retirement System decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,826,385 shares of the wireless technology company’s stock after selling 174,921 shares during the quarter. California State Teachers Retirement System owned about 0.19% of QUALCOMM worth $156,072,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Capstone Investment Advisors Netherlands B.V. acquired a new stake in QUALCOMM during the second quarter worth approximately $141,000. Jacobi Capital Management LLC grew its position in QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after buying an additional 250 shares in the last quarter. Penserra Capital Management LLC grew its position in QUALCOMM by 40.7% during the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares in the last quarter. FNY Partners Fund LP grew its position in QUALCOMM by 102.0% during the second quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock worth $171,000 after buying an additional 1,565 shares in the last quarter. Finally, American National Bank grew its position in QUALCOMM by 28.7% during the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after buying an additional 812 shares in the last quarter. 76.66% of the stock is currently owned by institutional investors.
QUALCOMM Incorporated (QCOM) opened at $65.23 on Friday. The stock has a market capitalization of $96,030.00, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.81 and a beta of 1.39. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12-month low of $48.92 and a 12-month high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. equities research analysts anticipate that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.50%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is currently 138.18%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,427 shares of company stock valued at $1,827,995. 0.17% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on QCOM. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price target on shares of QUALCOMM in a research report on Thursday, August 24th. UBS reduced their price target on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Finally, Wells Fargo & Company downgraded QUALCOMM from an “outperform” rating to a “market perform” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and an average price target of $66.02.
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QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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