Nationwide Fund Advisors Has $67.34 Million Holdings in QUALCOMM, Inc. (QCOM)
Nationwide Fund Advisors cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,299,078 shares of the wireless technology company’s stock after selling 97,358 shares during the period. Nationwide Fund Advisors owned 0.09% of QUALCOMM worth $67,344,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Westwood Holdings Group Inc. acquired a new position in shares of QUALCOMM during the second quarter worth $114,000. Krilogy Financial LLC increased its position in shares of QUALCOMM by 47.0% during the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of QUALCOMM during the second quarter worth $141,000. Jacobi Capital Management LLC increased its position in shares of QUALCOMM by 7.8% during the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of 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 purchasing an additional 842 shares in the last quarter. 76.53% of the stock is currently owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,427 shares of company stock worth $1,827,995. 0.24% of the stock is owned by corporate insiders.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 2.86% and a return on equity of 2.19%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. equities research analysts anticipate that QUALCOMM, Inc. will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.53%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
A number of equities analysts have recently issued reports on the company. BidaskClub downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Stifel Nicolaus downgraded QUALCOMM from a “buy” rating to a “hold” rating and upped their price target for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, November 27th. Finally, Royal Bank of Canada upped their target price on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. One 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.02.
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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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