Nomura Asset Management Co. Ltd. lowered its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 3.3% in the second quarter, Holdings Channel.com reports. The fund owned 302,376 shares of the wireless technology company’s stock after selling 10,302 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in QUALCOMM were worth $23,001,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Weaver Consulting Group acquired a new position in shares of QUALCOMM in the 1st quarter worth approximately $25,000. Farmers National Bank acquired a new position in shares of QUALCOMM in the 1st quarter worth approximately $26,000. Meridian Wealth Management LLC acquired a new position in shares of QUALCOMM in the 1st quarter worth approximately $26,000. Ibex Wealth Advisors acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $28,000. Finally, Krane Funds Advisors LLC acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $28,000. Institutional investors own 78.73% of the company’s stock.
QCOM has been the subject of a number of recent research reports. BidaskClub raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 7th. DZ Bank reissued a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. Canaccord Genuity set a $87.00 target price on QUALCOMM and gave the stock a “buy” rating in a report on Monday, August 26th. Goldman Sachs Group initiated coverage on QUALCOMM in a report on Thursday, May 23rd. They issued a “neutral” rating and a $73.00 target price for the company. Finally, Deutsche Bank dropped their target price on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $79.68.NASDAQ QCOM traded down $0.67 during trading hours on Friday, reaching $78.41. 4,211,312 shares of the company’s stock were exchanged, compared to its average volume of 8,359,853. The stock has a market cap of $97.13 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.59. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $90.34. The firm has a fifty day moving average of $74.48 and a 200-day moving average of $70.61. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. QUALCOMM’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 EPS. As a group, research analysts forecast that QUALCOMM, Inc. will post 2.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given 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 yield of 3.16%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
In other QUALCOMM news, SVP Erin L. Polek sold 1,478 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 1,386 shares in the company, valued at approximately $97,518.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark D. Mclaughlin acquired 2,705 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the transaction, the director now directly owns 5,220 shares in the company, valued at approximately $385,444.80. The disclosure for this purchase can be found here. 0.11% of the stock is owned by corporate insiders.
QUALCOMM Company Profile
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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