Douglass Winthrop Advisors LLC purchased a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,871 shares of the wireless technology company’s stock, valued at approximately $218,000.
Other large investors have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of QUALCOMM by 0.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock valued at $1,147,095,000 after acquiring an additional 96,527 shares in the last quarter. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at about $736,806,000. Clearbridge Investments LLC increased its position in shares of QUALCOMM by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,379,210 shares of the wireless technology company’s stock valued at $534,896,000 after purchasing an additional 99,528 shares during the last quarter. FIL Ltd increased its position in shares of QUALCOMM by 179.2% during the 1st quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock valued at $272,050,000 after purchasing an additional 3,061,598 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of QUALCOMM by 48.5% during the 1st quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock valued at $183,728,000 after purchasing an additional 1,052,071 shares during the last quarter. 76.18% of the stock is currently owned by institutional investors.
In related news, EVP Michelle M. Sterling sold 5,560 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Erin L. Polek sold 1,478 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the transaction, the senior vice president now directly owns 1,386 shares in the company, valued at approximately $97,518.96. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.NASDAQ:QCOM opened at $71.26 on Friday. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $90.34. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. The stock has a 50-day moving average price of $74.46. The stock has a market capitalization of $82.87 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.85 and a beta of 1.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities research analysts predict that QUALCOMM, Inc. will post 2.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. QUALCOMM’s dividend payout ratio is 77.74%.
Several brokerages have recently commented on QCOM. Edward Jones lowered QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price objective on the stock. in a research report on Thursday, May 23rd. Macquarie set a $90.00 price target on QUALCOMM and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Mizuho restated a “hold” rating and set a $68.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $88.00 to $96.00 and gave the stock a “positive” rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and an average target price of $79.93.
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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