Fort Washington Investment Advisors Inc. OH decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,966 shares of the wireless technology company’s stock after selling 15,909 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in QUALCOMM were worth $11,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Artisan Partners Limited Partnership lifted its stake in shares of QUALCOMM by 9.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock valued at $541,521,000 after buying an additional 783,394 shares in the last quarter. Veritas Asset Management LLP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at $440,415,000. Legal & General Group Plc lifted its stake in shares of QUALCOMM by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock valued at $436,076,000 after buying an additional 137,733 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of QUALCOMM by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock valued at $405,008,000 after buying an additional 439,180 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of QUALCOMM by 30.8% during 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 in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $66.00 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. The company has a market cap of $98,017.23, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 EPS. sell-side analysts anticipate that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.45%. QUALCOMM’s dividend payout ratio is currently 138.18%.
A number of research firms recently weighed in on QCOM. Royal Bank Of Canada lifted their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday. BMO Capital Markets restated a “market perform” rating and set a $55.00 target price on shares of QUALCOMM in a research note on Thursday, August 24th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research note on Wednesday, July 19th. Finally, Mizuho reiterated a “buy” rating and issued a $65.00 price target on shares of QUALCOMM in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $65.42.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold a total of 25,837 shares of company stock worth $1,512,049 over the last 90 days. Insiders own 0.24% of the company’s stock.
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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