Advisor Partners LLC increased its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 19.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 29,143 shares of the wireless technology company’s stock after buying an additional 4,822 shares during the quarter. Advisor Partners LLC’s holdings in QUALCOMM were worth $2,223,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of QUALCOMM by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock valued at $7,599,444,000 after purchasing an additional 2,296,163 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 49.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock valued at $2,672,850,000 after purchasing an additional 11,686,131 shares during the period. Bank of New York Mellon Corp grew its stake in shares of QUALCOMM by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 25,383,855 shares of the wireless technology company’s stock valued at $1,930,950,000 after purchasing an additional 2,035,743 shares during the period. Primecap Management Co. CA grew its stake in shares of QUALCOMM by 0.3% during the 2nd quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock valued at $1,880,201,000 after purchasing an additional 83,270 shares during the period. Finally, Northern Trust Corp grew its stake in shares of QUALCOMM by 1.9% during the 2nd quarter. Northern Trust Corp now owns 15,783,756 shares of the wireless technology company’s stock valued at $1,200,669,000 after purchasing an additional 301,087 shares during the period. Institutional investors own 78.52% of the company’s stock.
QCOM has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price objective on shares of QUALCOMM in a research note on Monday, July 22nd. Morgan Stanley set a $89.00 price objective on QUALCOMM and gave the company a “buy” rating in a research note on Wednesday, August 21st. BidaskClub upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th. TheStreet upgraded QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Finally, Bank of America cut their price objective on QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and a consensus target price of $79.68.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts predict that QUALCOMM, Inc. will post 2.84 EPS for the current 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 issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $2.48 annualized dividend and a dividend yield of 3.13%. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
In related news, Director Mark D. Mclaughlin bought 2,705 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $73.84 per share, with a total value of $199,737.20. Following the transaction, the director now owns 5,220 shares in the company, valued at approximately $385,444.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares in the company, valued at approximately $97,518.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,985 shares of company stock worth $892,245 over the last ninety days. Insiders own 0.11% of the company’s stock.
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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