Public Employees Retirement Association of Colorado cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 277,982 shares of the wireless technology company’s stock after selling 6,987 shares during the period. Public Employees Retirement Association of Colorado’s holdings in QUALCOMM were worth $15,939,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Aetna Inc. PA purchased a new stake in QUALCOMM during the fourth quarter valued at about $12,411,000. Federated Investors Inc. PA increased its position in QUALCOMM by 117.6% in the fourth quarter. Federated Investors Inc. PA now owns 402,062 shares of the wireless technology company’s stock valued at $26,214,000 after buying an additional 217,276 shares during the last quarter. Tredje AP fonden increased its position in QUALCOMM by 8.8% in the fourth quarter. Tredje AP fonden now owns 176,442 shares of the wireless technology company’s stock valued at $11,504,000 after buying an additional 14,307 shares during the last quarter. GSA Capital Partners LLP increased its position in QUALCOMM by 572.8% in the fourth quarter. GSA Capital Partners LLP now owns 114,706 shares of the wireless technology company’s stock valued at $7,479,000 after buying an additional 97,656 shares during the last quarter. Finally, Doyle Wealth Management acquired a new position in QUALCOMM during the first quarter valued at about $17,957,000. 76.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QUALCOMM Incorporated (QCOM) traded up 0.74% on Friday, hitting $52.88. 6,644,302 shares of the company traded hands. The firm’s 50-day moving average is $55.67 and its 200 day moving average is $56.35. The firm has a market capitalization of $78.05 billion, a P/E ratio of 20.25 and a beta of 1.30. QUALCOMM Incorporated has a 1-year low of $51.05 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. On average, analysts anticipate that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is presently 87.36%.
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Several equities analysts have recently issued reports on QCOM shares. Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub downgraded shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. Finally, Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target on the stock in a report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $64.18.
In other news, Director Ann M. Livermore purchased 9,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $54.59 per share, with a total value of $491,310.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the transaction, the executive vice president now directly owns 3,049 shares in the company, valued at approximately $174,646.72. The disclosure for this sale can be found here. Insiders sold a total of 62,802 shares of company stock valued at $3,544,381 in the last quarter. Company insiders own 0.17% of the company’s stock.
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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