QUALCOMM, Inc. (QCOM) Holdings Boosted by Flossbach Von Storch AG
Flossbach Von Storch AG boosted its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 1,055,200 shares of the wireless technology company’s stock after acquiring an additional 6,000 shares during the period. Flossbach Von Storch AG’s holdings in QUALCOMM were worth $54,702,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of QCOM. United Asset Strategies Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter valued at about $5,249,000. Conning Inc. grew its stake in shares of QUALCOMM by 16.4% during the 3rd quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after purchasing an additional 101,483 shares during the period. Wrapmanager Inc. bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $369,000. Stephens Inc. AR grew its stake in shares of QUALCOMM by 10.8% during the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after purchasing an additional 11,232 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in shares of QUALCOMM by 3.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock valued at $257,798,000 after purchasing an additional 160,226 shares during the period. 76.23% of the stock is owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the transaction, the executive vice president now directly owns 43,000 shares in the company, valued at approximately $2,810,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was 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. Insiders sold a total of 72,989 shares of company stock valued at $4,678,794 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. equities analysts anticipate that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.35%. QUALCOMM’s payout ratio is 138.18%.
QCOM has been the subject of a number of recent research reports. Canaccord Genuity boosted their price target on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Mizuho restated a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Finally, UBS Group cut their price target on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $67.14.
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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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