Checchi Capital Advisers LLC trimmed its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,948 shares of the wireless technology company’s stock after selling 1,401 shares during the quarter. Checchi Capital Advisers LLC’s holdings in QUALCOMM were worth $1,241,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. FMR LLC boosted its stake in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP bought a new stake in shares of QUALCOMM in the 2nd quarter valued at $440,415,000. Capital International Investors boosted its stake in shares of QUALCOMM by 59.9% in the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after purchasing an additional 5,671,176 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at $210,548,000. Finally, Parnassus Investments CA boosted its stake in shares of QUALCOMM by 62.4% in the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after purchasing an additional 3,000,000 shares during the last quarter. 76.53% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on QCOM. UBS Group cut their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Wells Fargo & Co lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Monday, November 6th. Royal Bank of Canada raised shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $70.00 in a research note on Wednesday, November 8th. Finally, Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, November 27th. 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 company currently has an average rating of “Hold” and a consensus target price of $66.06.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share 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 the consensus estimate of $5.80 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. equities analysts forecast that QUALCOMM, Inc. will post 3.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.45%. QUALCOMM’s payout ratio is 138.18%.
In other news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,989 shares of company stock worth $1,868,744. Corporate insiders own 0.17% of the company’s stock.
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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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