Shell Asset Management Co. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 58.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 479,027 shares of the wireless technology company’s stock after purchasing an additional 176,906 shares during the quarter. QUALCOMM comprises 0.6% of Shell Asset Management Co.’s holdings, making the stock its 23rd biggest position. Shell Asset Management Co.’s holdings in QUALCOMM were worth $35,817,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Intl Fcstone Inc. grew its position in shares of QUALCOMM by 132.9% during the 2nd quarter. Intl Fcstone Inc. now owns 35,695 shares of the wireless technology company’s stock worth $1,971,000 after buying an additional 20,366 shares during the period. Griffin Asset Management Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth about $4,888,000. Gs Investments Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth about $650,000. United Bank VA grew its position in shares of QUALCOMM by 13.9% during the 2nd quarter. United Bank VA now owns 64,846 shares of the wireless technology company’s stock worth $3,581,000 after buying an additional 7,929 shares during the period. Finally, Paradigm Financial Advisors LLC grew its position in shares of QUALCOMM by 23.1% during the 2nd quarter. Paradigm Financial Advisors LLC now owns 74,976 shares of the wireless technology company’s stock worth $4,140,000 after buying an additional 14,056 shares during the period. 76.66% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Alexander H. Rogers sold 874 shares of the company’s 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 sale, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,427 shares of company stock valued at $1,827,995. Insiders own 0.17% of the company’s stock.
QCOM has been the subject of several analyst reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price for the company in a research report on Monday, November 13th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Canaccord Genuity boosted their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Citigroup boosted their target price on QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Standpoint Research lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $66.02.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $64.76 on Friday. QUALCOMM Incorporated has a 12-month low of $48.92 and a 12-month 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 firm has a market capitalization of $95,560.00, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.84 and a beta of 1.39.
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. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s revenue was down 3.5% on a year-over-year basis. sell-side analysts expect that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.
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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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