Gs Investments Inc. Invests $650,000 in QUALCOMM Incorporated (QCOM)
Gs Investments Inc. acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,780 shares of the wireless technology company’s stock, valued at approximately $650,000.
Several other large investors also recently bought and sold shares of QCOM. Vanguard Group Inc. boosted its position in QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after buying an additional 1,537,645 shares during the period. FMR LLC boosted its position in QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after buying an additional 11,387,347 shares during the period. Northern Trust Corp boosted its position in QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after buying an additional 499,531 shares during the period. Capital International Investors boosted its position in QUALCOMM by 59.9% in the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after buying an additional 5,671,176 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in QUALCOMM by 3.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock valued at $537,426,000 after buying an additional 288,413 shares during the period. 76.66% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the sale, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 29,427 shares of company stock worth $1,827,995 over the last quarter. 0.17% of the stock is owned by company insiders.
Shares of QUALCOMM Incorporated (QCOM) opened at $64.70 on Friday. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The company has a market cap of $95,673.31, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.84 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the business earned $1.28 EPS. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts predict that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.52%. QUALCOMM’s dividend payout ratio is currently 138.18%.
QCOM has been the subject of several recent research reports. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price target for the company in a research report on Monday, November 13th. Stifel Nicolaus reissued a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Canaccord Genuity raised their price target on shares of QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, November 13th. Citigroup raised their price target on shares of QUALCOMM from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Finally, Standpoint Research cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price 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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