Tranquility Partners LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,175 shares of the wireless technology company’s stock after buying an additional 910 shares during the quarter. Tranquility Partners LLC’s holdings in QUALCOMM were worth $491,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in QUALCOMM by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 104,166,567 shares of the wireless technology company’s stock worth $9,501,032,000 after purchasing an additional 5,845,242 shares in the last quarter. FIL Ltd increased its stake in QUALCOMM by 380.4% during the 2nd quarter. FIL Ltd now owns 2,805,760 shares of the wireless technology company’s stock worth $255,913,000 after purchasing an additional 2,221,716 shares in the last quarter. Nuveen Asset Management LLC increased its stake in QUALCOMM by 24.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,535,939 shares of the wireless technology company’s stock worth $869,773,000 after purchasing an additional 1,870,075 shares in the last quarter. Two Sigma Advisers LP boosted its position in QUALCOMM by 216.8% during the 2nd quarter. Two Sigma Advisers LP now owns 1,571,687 shares of the wireless technology company’s stock worth $143,354,000 after acquiring an additional 1,075,500 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in QUALCOMM by 164.9% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 1,260,182 shares of the wireless technology company’s stock worth $114,941,000 after acquiring an additional 784,498 shares during the last quarter. 74.79% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Donald J. Rosenberg sold 10,720 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $118.27, for a total transaction of $1,267,854.40. Following the transaction, the executive vice president now directly owns 9,292 shares in the company, valued at $1,098,964.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 8,491 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.78, for a total transaction of $991,578.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,741 shares of company stock worth $4,940,651. Company insiders own 0.12% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.28. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $5.94 billion. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. As a group, equities analysts expect that QUALCOMM Incorporated will post 3.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.78%. QUALCOMM’s dividend payout ratio (DPR) is 91.55%.
QCOM has been the subject of a number of recent research reports. Rosenblatt Securities upped their price target on QUALCOMM from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Citigroup upped their price target on QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. 140166 upped their price target on QUALCOMM from $110.00 to $125.00 in a research report on Thursday, July 30th. UBS Group upped their price target on QUALCOMM from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. Finally, Cascend Securities increased their price objective on QUALCOMM from $145.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM presently has an average rating of “Buy” and a consensus price target of $142.08.
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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