Strs Ohio Trims Stake in QUALCOMM, Inc. (NASDAQ:QCOM)

Strs Ohio reduced its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 840,931 shares of the wireless technology company’s stock after selling 12,251 shares during the period. Strs Ohio’s holdings in QUALCOMM were worth $64,146,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Ibex Wealth Advisors bought a new stake in shares of QUALCOMM in the 2nd quarter worth about $28,000. Krane Funds Advisors LLC bought a new stake in shares of QUALCOMM in the 2nd quarter worth about $28,000. Hexavest Inc. bought a new stake in QUALCOMM during the 2nd quarter valued at about $33,000. Lenox Wealth Advisors LLC bought a new stake in QUALCOMM during the 2nd quarter valued at about $34,000. Finally, Mechanics Bank Trust Department bought a new stake in QUALCOMM during the 3rd quarter valued at about $34,000. 78.47% of the stock is owned by institutional investors and hedge funds.

NASDAQ QCOM traded up $0.66 during trading on Monday, reaching $78.34. 113,881 shares of the company’s stock traded hands, compared to its average volume of 6,228,265. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.61. The firm has a market cap of $96.00 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.59. The company’s 50 day simple moving average is $77.21 and its two-hundred day simple moving average is $74.39. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Research analysts expect that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s payout ratio is currently 77.74%.

In other news, EVP Michelle M. Sterling sold 10,398 shares of QUALCOMM stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $779,953.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark D. Mclaughlin acquired 2,705 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the transaction, the director now owns 5,220 shares in the company, valued at $385,444.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 11,985 shares of company stock worth $892,245. Insiders own 0.11% of the company’s stock.

QCOM has been the subject of a number of research analyst reports. Daiwa Capital Markets initiated coverage on shares of QUALCOMM in a report on Thursday, July 18th. They set a “neutral” rating for the company. Morgan Stanley set a $89.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a report on Wednesday, August 21st. DZ Bank reiterated a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. Barclays lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $90.00 to $75.00 in a report on Thursday, July 18th. Finally, Deutsche Bank decreased their price objective on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $79.68.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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