Robeco Institutional Asset Management B.V. Trims Stake in QUALCOMM Incorporated (QCOM)
Robeco Institutional Asset Management B.V. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,382 shares of the wireless technology company’s stock after selling 14,407 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in QUALCOMM were worth $9,972,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of QUALCOMM by 1.5% in the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after buying an additional 1,537,645 shares during the period. FMR LLC boosted its position in shares of QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after buying an additional 11,387,347 shares during the period. Northern Trust Corp boosted its position in shares of QUALCOMM by 2.6% in the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after buying an additional 499,531 shares during the period. Capital International Investors boosted its position in shares of QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after buying an additional 5,671,176 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of QUALCOMM by 3.1% in the second quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock worth $537,426,000 after buying an additional 288,413 shares during the period. 76.66% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on QCOM shares. Canaccord Genuity raised their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Royal Bank of Canada increased their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. Vetr lowered QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 price objective for the company. in a report on Monday, November 6th. Finally, Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and increased their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $66.02.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 90 days, insiders have sold 29,427 shares of company stock worth $1,827,995. Corporate insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (QCOM) opened at $64.76 on Monday. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $69.28. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $95,466.93, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.84 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating 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 company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company earned $1.28 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. equities research analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.52%. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.
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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