Public Employees Retirement System of Ohio Has $57,361,000 Position in QUALCOMM Incorporated (QCOM)
Public Employees Retirement System of Ohio held its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,000,372 shares of the wireless technology company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in QUALCOMM were worth $57,361,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Paradigm Financial Advisors LLC boosted its stake in shares of QUALCOMM by 14.5% in the first quarter. Paradigm Financial Advisors LLC now owns 60,920 shares of the wireless technology company’s stock valued at $3,493,000 after buying an additional 7,727 shares in the last quarter. Hefty Wealth Partners boosted its stake in shares of QUALCOMM by 355.7% in the first quarter. Hefty Wealth Partners now owns 30,293 shares of the wireless technology company’s stock valued at $1,737,000 after buying an additional 23,645 shares in the last quarter. Cardinal Capital Management Inc. boosted its stake in shares of QUALCOMM by 543.8% in the first quarter. Cardinal Capital Management Inc. now owns 10,300 shares of the wireless technology company’s stock valued at $591,000 after buying an additional 8,700 shares in the last quarter. Trust Co boosted its stake in shares of QUALCOMM by 2.2% in the fourth quarter. Trust Co now owns 37,502 shares of the wireless technology company’s stock valued at $2,445,000 after buying an additional 801 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of QUALCOMM during the first quarter valued at $278,000. Institutional investors own 76.59% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.19% during trading on Wednesday, reaching $53.77. 1,717,197 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $54.30 and a 200 day moving average price of $55.59. The company has a market capitalization of $79.37 billion, a P/E ratio of 20.59 and a beta of 1.29. QUALCOMM Incorporated has a 12-month low of $51.05 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. Equities analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is presently 87.36%.
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Several equities research analysts recently weighed in on the stock. Vetr cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price target on the stock. in a research report on Monday, May 22nd. Stifel Nicolaus boosted their price target on shares of QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 26th. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research report on Sunday, May 21st. J P Morgan Chase & Co upgraded shares of QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $50.00 to $68.00 in a research report on Monday, May 22nd. Finally, Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $63.96.
In other news, President Derek K. Aberle sold 22,251 shares of QUALCOMM stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the transaction, the president now owns 28,959 shares in the company, valued at approximately $1,667,748.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the transaction, the executive vice president now owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The disclosure for this sale can be found here. Insiders sold a total of 52,101 shares of company stock valued at $2,955,612 in the last quarter. Company insiders own 0.24% 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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