Ontario Teachers Pension Plan Board Lowers Holdings in QUALCOMM Incorporated (QCOM)
Ontario Teachers Pension Plan Board decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 44,265 shares of the wireless technology company’s stock after selling 7,094 shares during the period. Ontario Teachers Pension Plan Board’s holdings in QUALCOMM were worth $2,444,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of QCOM. FMR LLC grew its holdings in QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP acquired a new stake in QUALCOMM in the second quarter valued at $440,415,000. Baupost Group LLC MA acquired a new stake in QUALCOMM in the first quarter valued at $299,085,000. Nordea Investment Management AB grew its holdings 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 purchasing an additional 5,054,642 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings 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 purchasing an additional 1,544,792 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.
Several research firms have weighed in on QCOM. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Monday. Sanford C. Bernstein reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Royal Bank Of Canada increased their price objective on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Canaccord Genuity increased their price objective on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, UBS AG raised QUALCOMM from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $65.63.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) opened at $68.91 on Monday. The company has a market capitalization of $101,584.72, a PE ratio of 18.23, a P/E/G ratio of 1.93 and a beta of 1.26. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a twelve month low of $48.92 and a twelve month high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its 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. The business 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 was down 3.5% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. research analysts predict that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.31%. QUALCOMM’s payout ratio is currently 138.18%.
In related news, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,553 shares of company stock worth $1,768,108. Company insiders own 0.17% of the company’s stock.
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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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