QUALCOMM Incorporated (QCOM) Holdings Lifted by Flinton Capital Management LLC
Flinton Capital Management LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,840 shares of the wireless technology company’s stock after buying an additional 4,048 shares during the quarter. Flinton Capital Management LLC’s holdings in QUALCOMM were worth $4,188,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Prudential PLC grew its holdings in shares of QUALCOMM by 37.7% during the second quarter. Prudential PLC now owns 1,410,848 shares of the wireless technology company’s stock worth $77,907,000 after purchasing an additional 386,400 shares in the last quarter. Logan Capital Management Inc. grew its holdings in shares of QUALCOMM by 0.6% during the second quarter. Logan Capital Management Inc. now owns 11,095 shares of the wireless technology company’s stock worth $613,000 after purchasing an additional 64 shares in the last quarter. Fieldpoint Private Securities LLC grew its holdings in shares of QUALCOMM by 6.3% during the second quarter. Fieldpoint Private Securities LLC now owns 21,878 shares of the wireless technology company’s stock worth $1,208,000 after purchasing an additional 1,301 shares in the last quarter. Capital International Investors grew its holdings in shares of QUALCOMM by 59.9% during the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after purchasing an additional 5,671,176 shares in the last quarter. Finally, GLG Partners LP purchased a new position in shares of QUALCOMM during the second quarter worth about $23,453,000. 76.66% of the stock is owned by institutional investors and hedge funds.
Shares of QUALCOMM Incorporated (QCOM) opened at $65.49 on Friday. The stock has a market capitalization of $96,543.06, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $70.24.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) 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 analyst estimates of $5.80 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. QUALCOMM’s revenue for the quarter was down 3.5% on a year-over-year basis. equities analysts expect that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.48%. QUALCOMM’s payout ratio is currently 138.18%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was 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 $824,638.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction that occurred on 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. Insiders sold 29,427 shares of company stock valued at $1,827,995 in the last quarter. Corporate insiders own 0.17% of the company’s stock.
Several brokerages have recently commented on QCOM. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price objective on shares of QUALCOMM in a report on Thursday, August 24th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday. William Blair reissued a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. Finally, Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $66.02.
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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