Penn Davis Mcfarland Inc. cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 459,988 shares of the wireless technology company’s stock after selling 9,658 shares during the period. QUALCOMM makes up 10.2% of Penn Davis Mcfarland Inc.’s holdings, making the stock its 2nd biggest holding. Penn Davis Mcfarland Inc.’s holdings in QUALCOMM were worth $26,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in QUALCOMM by 1,897,041.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock worth $1,500,428,000 after acquiring an additional 20,829,517 shares in the last quarter. Morgan Stanley grew its holdings in QUALCOMM by 163.2% during the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after acquiring an additional 11,713,988 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in QUALCOMM during the 3rd quarter worth approximately $357,926,000. Capital World Investors grew its holdings in QUALCOMM by 33.5% during the 3rd quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock worth $1,338,363,000 after acquiring an additional 4,662,437 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in QUALCOMM by 28.8% during the 3rd quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock worth $662,161,000 after acquiring an additional 2,058,096 shares in the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.
Shares of QUALCOMM stock opened at $55.27 on Monday. The firm has a market cap of $67.00 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.69 and a beta of 1.40. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 16.56. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $76.50.QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.20. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.54 billion. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. QUALCOMM’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, equities research analysts forecast that QUALCOMM, Inc. will post 3.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $2.48 dividend on an annualized basis and a yield of 4.49%. QUALCOMM’s payout ratio is currently 77.74%.
In other news, EVP Donald J. Rosenberg sold 6,297 shares of the company’s stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $55.22, for a total transaction of $347,720.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alexander H. Rogers sold 853 shares of the company’s 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 transaction, the executive vice president now directly owns 4,344 shares in the company, valued at $275,844. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,521 shares of company stock valued at $2,030,355. 0.24% of the stock is owned by insiders.
Several research firms have commented on QCOM. KeyCorp assumed coverage on shares of QUALCOMM in a report on Tuesday, September 25th. They set a “sector weight” rating for the company. Canaccord Genuity reduced their price objective on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Tigress Financial restated a “buy” rating on shares of QUALCOMM in a research report on Friday, September 28th. Finally, Stifel Nicolaus boosted their price objective on shares of QUALCOMM from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. QUALCOMM presently has an average rating of “Hold” and an average target price of $68.67.
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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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