Columbia Partners L L C Investment Management boosted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,319 shares of the wireless technology company’s stock after purchasing an additional 7,168 shares during the period. Columbia Partners L L C Investment Management’s holdings in QUALCOMM were worth $5,615,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ronald Blue & Co. LLC increased its holdings in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after purchasing an additional 18 shares during the period. Hollencrest Securities LLC increased its holdings in QUALCOMM by 0.9% in the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after purchasing an additional 40 shares during the period. Farmers Trust Co. increased its holdings in QUALCOMM by 0.9% in the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after purchasing an additional 48 shares during the period. FCA Corp TX increased its holdings in QUALCOMM by 1.0% in the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after purchasing an additional 49 shares during the period. Finally, Meridian Investment Counsel Inc. increased its holdings in QUALCOMM by 0.3% in the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 76.23% of the company’s stock.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,989 shares of company stock worth $4,678,794. Insiders own 0.24% of the company’s stock.
QUALCOMM, Inc. (NASDAQ QCOM) opened at $65.38 on Tuesday. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The company has a market cap of $96,380.00, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter last year, the firm earned $1.28 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. sell-side analysts forecast that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.49%. QUALCOMM’s dividend payout ratio is currently 138.18%.
QCOM has been the subject of a number of recent research reports. Canaccord Genuity increased their price objective on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, UBS Group decreased their price target on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and a consensus target price of $66.06.
QUALCOMM Company Profile
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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