Pitcairn Co. Has $1.11 Million Position in QUALCOMM, Inc. (QCOM)
Pitcairn Co. lowered its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,392 shares of the wireless technology company’s stock after selling 2,466 shares during the period. Pitcairn Co.’s holdings in QUALCOMM were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Westwood Holdings Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $114,000. Krilogy Financial LLC grew its position in shares of QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after acquiring an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $141,000. Jacobi Capital Management LLC grew its position in shares of QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after acquiring an additional 200 shares during the period. Finally, Penserra Capital Management LLC grew its position in shares of QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the period. 76.53% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on QCOM. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, November 27th. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and lifted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Royal Bank of Canada lifted their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Finally, ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $66.06.
Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at $66.47 on Monday. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month 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 $97,990.00, a PE ratio of 40.28, a P/E/G ratio of 1.89 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the 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 business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the company earned $1.28 EPS. The business’s revenue was down 3.5% on a year-over-year basis. analysts forecast that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.43%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock valued at $1,868,744 in the last quarter. Corporate insiders own 0.17% of the company’s stock.
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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