Artisan Partners Limited Partnership boosted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 22.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,014,540 shares of the wireless technology company’s stock after purchasing an additional 2,018,241 shares during the period. QUALCOMM makes up approximately 1.2% of Artisan Partners Limited Partnership’s portfolio, making the stock its 20th biggest holding. Artisan Partners Limited Partnership owned approximately 0.74% of QUALCOMM worth $610,316,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of QCOM. Capital International Investors raised its stake in shares of QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after acquiring an additional 6,322,645 shares during the period. Stifel Financial Corp raised its stake in shares of QUALCOMM by 7,466.2% in the 3rd quarter. Stifel Financial Corp now owns 2,872,490 shares of the wireless technology company’s stock valued at $148,873,000 after acquiring an additional 2,834,525 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of QUALCOMM by 21.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,218,088 shares of the wireless technology company’s stock valued at $581,538,000 after acquiring an additional 1,964,525 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of QUALCOMM by 20.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 11,089,700 shares of the wireless technology company’s stock valued at $577,309,000 after acquiring an additional 1,869,100 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in shares of QUALCOMM by 56.6% in the 3rd quarter. Thornburg Investment Management Inc. now owns 5,052,411 shares of the wireless technology company’s stock valued at $261,917,000 after acquiring an additional 1,825,187 shares during the period. 76.92% of the stock is currently owned by institutional investors.
In other news, EVP James H. Thompson sold 50,126 shares of QUALCOMM stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the transaction, the executive vice president now directly owns 136,482 shares of the company’s stock, valued at approximately $8,551,962.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander H. Rogers sold 663 shares of QUALCOMM stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total transaction of $37,519.17. Following the completion of the transaction, the executive vice president now directly owns 8,794 shares of the company’s stock, valued at $497,652.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,383 shares of company stock valued at $4,762,616. 0.24% of the stock is owned by company insiders.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.10. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.21 billion. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the business earned $1.34 EPS. equities analysts forecast that QUALCOMM, Inc. will post 2.71 earnings per share for the current fiscal year.
QUALCOMM declared that its board has approved a stock buyback plan on Wednesday, May 9th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the wireless technology company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be issued a dividend of $0.62 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.57. This represents a $2.48 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, May 29th. QUALCOMM’s dividend payout ratio (DPR) is currently 60.32%.
QCOM has been the topic of a number of research reports. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. KeyCorp lifted their price target on shares of QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Northland Securities reaffirmed a “buy” rating and set a $75.00 price target on shares of QUALCOMM in a research note on Thursday, February 1st. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price target on the stock. in a research note on Thursday, February 1st. Finally, Mizuho reaffirmed a “buy” rating and set a $64.00 price target (down previously from $75.00) on shares of QUALCOMM in a research note on Wednesday, April 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.67.
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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