Horseman Capital Management Ltd Buys New Holdings in QUALCOMM Incorporated (QCOM)
Horseman Capital Management Ltd bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the wireless technology company’s stock, valued at approximately $828,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Ronald Blue & Co. LLC grew its holdings in QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after acquiring an additional 18 shares during the period. Hollencrest Securities LLC grew its holdings in QUALCOMM by 0.9% during the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after acquiring an additional 40 shares during the period. North Star Investment Management Corp. grew its holdings in QUALCOMM by 0.4% during the second quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock worth $522,000 after acquiring an additional 42 shares during the period. FCA Corp TX grew its holdings in QUALCOMM by 0.9% during the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock worth $276,000 after acquiring an additional 43 shares during the period. Finally, Farmers Trust Co. grew its holdings in QUALCOMM by 0.9% during the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock worth $288,000 after acquiring an additional 48 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM 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 SEC, which is available through this link. Over the last ninety days, insiders sold 5,837 shares of company stock worth $303,249. Company insiders own 0.17% of the company’s stock.
QCOM has been the topic of a number of research analyst reports. Mizuho reaffirmed a “buy” rating and set a $65.00 target price on shares of QUALCOMM in a report on Friday, July 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $65.00 target price on shares of QUALCOMM in a report on Thursday, July 13th. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, October 17th. Canaccord Genuity lifted their target price on QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on QUALCOMM from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $63.80.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $61.81 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 2.73. The stock has a market capitalization of $80.84 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.77 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last issued 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. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 EPS. equities analysts predict that QUALCOMM Incorporated will post 3.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is currently 138.18%.
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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