ANTIPODES PARTNERS Ltd cut its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 48.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 614,531 shares of the wireless technology company’s stock after selling 573,154 shares during the period. QUALCOMM comprises 2.5% of ANTIPODES PARTNERS Ltd’s portfolio, making the stock its 16th biggest position. ANTIPODES PARTNERS Ltd owned 0.05% of QUALCOMM worth $56,051,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in QUALCOMM by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 16,747,551 shares of the wireless technology company’s stock worth $1,131,038,000 after buying an additional 287,438 shares during the last quarter. Capital World Investors grew its stake in QUALCOMM by 5.2% during the 1st quarter. Capital World Investors now owns 15,268,873 shares of the wireless technology company’s stock valued at $1,032,939,000 after purchasing an additional 751,290 shares during the last quarter. Clearbridge Investments LLC grew its stake in QUALCOMM by 6.0% during the 1st quarter. Clearbridge Investments LLC now owns 10,167,014 shares of the wireless technology company’s stock valued at $687,798,000 after purchasing an additional 571,593 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of QUALCOMM by 1.6% in the 1st quarter. Royal Bank of Canada now owns 8,278,895 shares of the wireless technology company’s stock valued at $560,068,000 after buying an additional 127,006 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of QUALCOMM by 0.8% in the 1st quarter. Legal & General Group Plc now owns 7,646,576 shares of the wireless technology company’s stock valued at $519,692,000 after buying an additional 62,298 shares during the period. 74.50% of the stock is owned by institutional investors and hedge funds.
QUALCOMM stock traded down $1.58 during midday trading on Friday, reaching $105.61. The company’s stock had a trading volume of 16,770,274 shares, compared to its average volume of 8,403,357. QUALCOMM, Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $107.75. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The company has a market cap of $120.94 billion, a P/E ratio of 44.56, a P/E/G ratio of 1.98 and a beta of 1.34. The business has a 50-day simple moving average of $90.67 and a 200-day simple moving average of $82.54.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 2nd. QUALCOMM’s payout ratio is 91.55%.
In other QUALCOMM news, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $102.42, for a total value of $401,998.50. Following the transaction, the chief financial officer now directly owns 17,790 shares in the company, valued at approximately $1,822,051.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,740 shares of company stock worth $22,024,427. Corporate insiders own 0.12% of the company’s stock.
Several equities analysts have recently issued reports on the company. Wells Fargo & Co boosted their price objective on QUALCOMM from $70.00 to $90.00 in a report on Thursday. Rosenblatt Securities upped their price target on QUALCOMM from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Tigress Financial reissued a “buy” rating on shares of QUALCOMM in a report on Friday, April 17th. Finally, Charter Equity reissued a “hold” rating on shares of QUALCOMM in a report on Thursday, April 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $106.36.
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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