Columbia Partners L L C Investment Management Has $6.78 Million Stake in QUALCOMM Incorporated (QCOM)
Columbia Partners L L C Investment Management raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 118,297 shares of the wireless technology company’s stock after buying an additional 4,972 shares during the period. QUALCOMM comprises approximately 0.9% of Columbia Partners L L C Investment Management’s investment portfolio, making the stock its 22nd largest position. Columbia Partners L L C Investment Management’s holdings in QUALCOMM were worth $6,783,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Baupost Group LLC MA acquired a new position in QUALCOMM during the first quarter worth $299,085,000. Nordea Investment Management AB boosted its position 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 worth $339,007,000 after buying an additional 5,054,642 shares during the last quarter. Schroder Investment Management Group boosted its position 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 worth $375,369,000 after buying an additional 1,544,792 shares during the last quarter. Pictet Asset Management Ltd. boosted its position 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 worth $180,788,000 after buying an additional 1,337,883 shares during the last quarter. Finally, Wedgewood Partners Inc. boosted its position in QUALCOMM by 39.7% in the first quarter. Wedgewood Partners Inc. now owns 4,081,972 shares of the wireless technology company’s stock worth $234,059,000 after buying an additional 1,160,993 shares during the last quarter. 76.59% of the stock is owned by institutional investors.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.11% during mid-day trading on Friday, hitting $52.21. The stock had a trading volume of 1,988,261 shares. The stock has a market cap of $77.07 billion, a P/E ratio of 20.00 and a beta of 1.29. The company’s 50 day moving average price is $54.13 and its 200 day moving average price is $55.55. QUALCOMM Incorporated has a 12-month low of $51.05 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the company earned $1.16 EPS. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. Equities research analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.36%. QUALCOMM’s dividend payout ratio is presently 87.36%.
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QCOM has been the subject of a number of analyst reports. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a report on Monday, May 1st. J P Morgan Chase & Co cut their price objective on QUALCOMM from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, May 2nd. Standpoint Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Friday, April 28th. BMO Capital Markets reiterated a “market perform” rating and set a $54.00 price objective on shares of QUALCOMM in a research note on Tuesday, May 2nd. Finally, Canaccord Genuity cut their price objective on QUALCOMM from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $63.96.
In related news, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction of $26,921.60. Following the transaction, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Derek K. Aberle sold 22,251 shares of QUALCOMM stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the transaction, the president now owns 28,959 shares in the company, valued at approximately $1,667,748.81. The disclosure for this sale can be found here. Insiders have sold a total of 52,101 shares of company stock valued at $2,955,612 over the last three months. Corporate insiders own 0.17% of the company’s stock.
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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