OPSEU Pension Plan Trust Fund trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,322 shares of the wireless technology company’s stock after selling 953 shares during the period. QUALCOMM accounts for about 1.3% of OPSEU Pension Plan Trust Fund’s portfolio, making the stock its 5th biggest holding. OPSEU Pension Plan Trust Fund’s holdings in QUALCOMM were worth $4,299,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. 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 acquiring an additional 5,845,242 shares during the period. FIL Ltd lifted its holdings 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 buying an additional 2,221,716 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of QUALCOMM by 24.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,535,939 shares of the wireless technology company’s stock valued at $869,773,000 after purchasing an additional 1,870,075 shares during the period. Two Sigma Advisers LP lifted its stake in shares of QUALCOMM by 216.8% in the 2nd quarter. Two Sigma Advisers LP now owns 1,571,687 shares of the wireless technology company’s stock valued at $143,354,000 after purchasing an additional 1,075,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of QUALCOMM by 164.9% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 1,260,182 shares of the wireless technology company’s stock valued at $114,941,000 after purchasing an additional 784,498 shares during the period. 74.79% of the stock is owned by institutional investors.
QUALCOMM stock traded up $0.12 during trading on Tuesday, hitting $149.19. The stock had a trading volume of 174,212 shares, compared to its average volume of 10,048,552. QUALCOMM Incorporated has a 1 year low of $58.00 and a 1 year high of $149.41. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The stock’s 50 day moving average is $128.60 and its two-hundred day moving average is $104.55. The stock has a market cap of $168.60 billion, a price-to-earnings ratio of 62.90, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 4th. The wireless technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.28. The firm had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $5.94 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business’s quarterly revenue was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 3.2 EPS for the current fiscal year.
The business also recently disclosed 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 1.74%. QUALCOMM’s dividend payout ratio (DPR) is currently 91.55%.
In other news, President Cristiano R. Amon sold 20,530 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the completion of the transaction, the president now directly owns 50,753 shares in the company, valued at $6,628,341.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald J. Rosenberg sold 10,720 shares of QUALCOMM stock in a transaction that occurred on 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 owns 9,292 shares of the company’s stock, valued at $1,098,964.84. The disclosure for this sale can be found here. Insiders have sold 39,741 shares of company stock worth $4,940,651 over the last ninety days. Insiders own 0.12% of the company’s stock.
A number of research analysts have recently issued reports on QCOM shares. Canaccord Genuity boosted their price objective on QUALCOMM from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. UBS Group boosted their price objective on QUALCOMM from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. BNP Paribas raised QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Friday, September 25th. JPMorgan Chase & Co. set a $160.00 price objective on QUALCOMM and gave the company a “buy” rating in a research note on Thursday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on QUALCOMM from $127.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price 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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