Nordea Investment Management AB increased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,838,353 shares of the wireless technology company’s stock after purchasing an additional 207,437 shares during the period. Nordea Investment Management AB owned 0.40% of QUALCOMM worth $302,660,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Ronald Blue & Co. LLC raised its stake in QUALCOMM by 0.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after acquiring an additional 18 shares during the last quarter. Hollencrest Securities LLC raised its stake in QUALCOMM by 0.9% during the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after acquiring an additional 40 shares during the last quarter. FCA Corp TX raised its stake in QUALCOMM by 1.0% during the 2nd quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after acquiring an additional 49 shares during the last quarter. Meridian Investment Counsel Inc. raised its stake in QUALCOMM by 0.3% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after acquiring an additional 50 shares during the last quarter. Finally, Valueworks LLC raised its stake in QUALCOMM by 0.3% during the 2nd quarter. Valueworks LLC now owns 14,976 shares of the wireless technology company’s stock valued at $827,000 after acquiring an additional 50 shares during the last quarter. 76.31% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on QCOM. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, November 27th. Macquarie increased their target price on QUALCOMM from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Canaccord Genuity increased their target price on QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Stifel Nicolaus downgraded QUALCOMM from a “buy” rating to a “hold” rating and increased their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, November 28th. Finally, ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $67.14.
Shares of QUALCOMM, Inc. (QCOM) opened at $68.04 on Monday. The firm has a market capitalization of $100,725.40, a P/E ratio of 41.24, a P/E/G ratio of 1.93 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM, Inc. has a fifty-two week low of $48.92 and a fifty-two week high of $69.28.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. analysts expect that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is currently 138.18%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the sale, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,989 shares of company stock worth $4,678,794. Insiders own 0.24% of the company’s stock.
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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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