Clearbridge Investments LLC lifted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 28.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,192,851 shares of the wireless technology company’s stock after acquiring an additional 2,058,096 shares during the quarter. Clearbridge Investments LLC owned 0.76% of QUALCOMM worth $662,161,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Accurate Investment Solutions Inc. lifted its holdings in QUALCOMM by 1.3% in the third quarter. Accurate Investment Solutions Inc. now owns 62,870 shares of the wireless technology company’s stock valued at $4,529,000 after acquiring an additional 804 shares during the period. Massey Quick Simon & CO. LLC increased its position in shares of QUALCOMM by 25.9% during the third quarter. Massey Quick Simon & CO. LLC now owns 4,046 shares of the wireless technology company’s stock worth $291,000 after purchasing an additional 832 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of QUALCOMM by 22.0% during the second quarter. Flagship Harbor Advisors LLC now owns 4,789 shares of the wireless technology company’s stock worth $268,000 after purchasing an additional 862 shares in the last quarter. Linscomb & Williams Inc. increased its position in shares of QUALCOMM by 1.2% during the third quarter. Linscomb & Williams Inc. now owns 70,269 shares of the wireless technology company’s stock worth $5,061,000 after purchasing an additional 863 shares in the last quarter. Finally, Heritage Trust Co increased its position in shares of QUALCOMM by 1.3% during the second quarter. Heritage Trust Co now owns 67,626 shares of the wireless technology company’s stock worth $3,794,000 after purchasing an additional 885 shares in the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.
Several analysts recently commented on QCOM shares. Barclays started coverage on QUALCOMM in a research report on Thursday, September 13th. They set an “overweight” rating and a $95.00 price target for the company. Deutsche Bank dropped their target price on QUALCOMM to $65.00 and set a “hold” rating for the company in a report on Thursday, November 8th. Bank of America lowered their price target on QUALCOMM from $70.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, November 8th. BidaskClub upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, KeyCorp began coverage on QUALCOMM in a report on Tuesday, September 25th. They set a “sector weight” rating for the company. Twelve analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $70.44.In related news, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction on Monday, October 29th. The stock was sold at an average price of $63.50, for a total transaction of $54,165.50. Following the completion of the transaction, the executive vice president now directly owns 4,344 shares of the company’s stock, valued at $275,844. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $55.22, for a total value of $347,720.34. The disclosure for this sale can be found here. Insiders sold a total of 34,521 shares of company stock valued at $2,030,355 over the last three months. Insiders own 0.24% of the company’s stock.
Shares of QCOM traded up $0.70 during mid-day trading on Friday, reaching $57.50. The company’s stock had a trading volume of 12,022,865 shares, compared to its average volume of 12,113,758. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $76.50. The company has a market cap of $68.62 billion, a P/E ratio of 18.03, a PEG ratio of 1.73 and a beta of 1.40. The company has a debt-to-equity ratio of 16.56, a quick ratio of 1.40 and a current ratio of 1.55.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.20. The business had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.54 billion. QUALCOMM had a positive return on equity of 26.21% and a negative net margin of 21.40%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, analysts predict that QUALCOMM, Inc. will post 3.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th were issued a $0.62 dividend. The ex-dividend date was Wednesday, December 5th. This represents a $2.48 annualized dividend and a dividend yield of 4.31%. QUALCOMM’s dividend payout ratio is currently 77.74%.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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