Candriam Luxembourg S.C.A. Has $14.12 Million Position in QUALCOMM Incorporated (QCOM)
Candriam Luxembourg S.C.A. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 38.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,620 shares of the wireless technology company’s stock after selling 157,689 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in QUALCOMM were worth $14,116,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Baupost Group LLC MA bought a new stake in QUALCOMM during the first quarter worth $299,085,000. Nordea Investment Management AB lifted its stake in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after acquiring an additional 5,054,642 shares during the last quarter. Schroder Investment Management Group lifted its stake in QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after acquiring an additional 1,544,792 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in QUALCOMM by 73.7% in the first quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock valued at $180,788,000 after acquiring an additional 1,337,883 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in QUALCOMM by 57.5% in the second quarter. Russell Investments Group Ltd. now owns 3,432,959 shares of the wireless technology company’s stock valued at $189,570,000 after acquiring an additional 1,252,781 shares during the last quarter. 76.97% of the stock is owned by institutional investors and hedge funds.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at 51.88 on Tuesday. The company has a market cap of $76.58 billion, a PE ratio of 19.87 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62. The company has a 50 day moving average of $51.80 and a 200 day moving average of $54.59.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same period in the previous year, the business posted $1.16 EPS. The business’s quarterly revenue was down 11.1% on a year-over-year basis. On average, analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, August 28th. QUALCOMM’s dividend payout ratio is currently 87.36%.
Several equities research analysts recently issued reports on the stock. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 target price for the company in a research note on Wednesday, June 7th. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. BMO Capital Markets restated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Monday, July 10th. Finally, Northland Securities raised QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price objective for the company in a research report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.60.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the sale, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,914 shares of company stock worth $1,581,095. 0.24% of the stock is owned by insiders.
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QUALCOMM Company Profile
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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