Tanaka Capital Management Inc. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,099 shares of the wireless technology company’s stock after selling 1,313 shares during the quarter. QUALCOMM comprises approximately 2.0% of Tanaka Capital Management Inc.’s holdings, making the stock its 17th biggest holding. Tanaka Capital Management Inc.’s holdings in QUALCOMM were worth $889,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. United Asset Strategies Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter valued at $5,249,000. Stephens Inc. AR lifted its holdings in QUALCOMM by 10.8% in the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock worth $6,377,000 after buying an additional 11,232 shares in the last quarter. Stifel Financial Corp lifted its holdings in QUALCOMM by 47.4% in the 1st quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock worth $168,002,000 after buying an additional 943,026 shares in the last quarter. Private Asset Management Inc. lifted its holdings in QUALCOMM by 0.5% in the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after buying an additional 4,028 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in QUALCOMM by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock worth $257,798,000 after buying an additional 160,226 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) opened at $64.24 on Monday. The firm has a market cap of $94,700.00, a PE ratio of 16.99, a PEG ratio of 1.82 and a beta of 1.39. QUALCOMM Incorporated has a 1 year low of $48.92 and a 1 year high of $70.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is presently 138.18%.
In related news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the sale, the executive vice president now owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. 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.
A number of equities analysts have commented on QCOM shares. Canaccord Genuity boosted their price objective on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock 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 cut their price objective on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have given a buy rating to the company. QUALCOMM has a consensus rating of “Hold” and an average target price of $66.02.
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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