Vision Capital Management Inc. Lowers Holdings in QUALCOMM Incorporated (QCOM)
Vision Capital Management Inc. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,400 shares of the wireless technology company’s stock after selling 1,200 shares during the period. Vision Capital Management Inc.’s holdings in QUALCOMM were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in QCOM. Veritas Asset Management LLP purchased a new stake in QUALCOMM in the 2nd quarter valued at about $440,415,000. Baupost Group LLC MA purchased a new stake in QUALCOMM in the 1st quarter valued at about $299,085,000. Nordea Investment Management AB boosted its position in QUALCOMM by 589.4% in the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares during the period. Schroder Investment Management Group boosted its position in QUALCOMM by 30.8% in the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after buying an additional 1,544,792 shares during the period. Finally, First Eagle Investment Management LLC purchased a new stake in QUALCOMM in the 2nd quarter valued at about $82,556,000. 76.93% of the stock is owned by institutional investors.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Insiders have sold 25,837 shares of company stock worth $1,512,049 over the last three months. 0.17% of the stock is currently owned by insiders.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at $66.11 on Friday. QUALCOMM Incorporated has a twelve month low of $48.92 and a twelve month high of $70.24. The stock has a market cap of $96,719.97, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.83 and a beta of 1.26. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
Several equities research analysts have issued reports on the stock. Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a research report on Monday. Royal Bank Of Canada upgraded shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $70.00 in a report on Wednesday, November 8th. UBS AG upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Raymond James Financial, Inc. upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $65.42.
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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