BBVA USA Bancshares Inc. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,840 shares of the wireless technology company’s stock after selling 5,174 shares during the quarter. BBVA USA Bancshares Inc.’s holdings in QUALCOMM were worth $9,329,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in QUALCOMM by 5.9% in the second quarter. Vanguard Group Inc. now owns 104,166,567 shares of the wireless technology company’s stock valued at $9,501,032,000 after purchasing an additional 5,845,242 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in QUALCOMM by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 10,658,831 shares of the wireless technology company’s stock valued at $972,192,000 after acquiring an additional 318,756 shares during the period. Nuveen Asset Management LLC grew its stake in QUALCOMM by 24.4% in the second quarter. Nuveen Asset Management LLC now owns 9,535,939 shares of the wireless technology company’s stock valued at $869,773,000 after acquiring an additional 1,870,075 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in QUALCOMM by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,350,496 shares of the wireless technology company’s stock valued at $579,229,000 after acquiring an additional 171,720 shares during the period. Finally, Morgan Stanley grew its stake in QUALCOMM by 6.3% in the first quarter. Morgan Stanley now owns 5,838,244 shares of the wireless technology company’s stock valued at $394,958,000 after acquiring an additional 346,856 shares during the period. Institutional investors and hedge funds own 74.79% of the company’s stock.
A number of research analysts have issued reports on QCOM shares. 140166 boosted their target price on QUALCOMM from $110.00 to $125.00 in a research note on Thursday, July 30th. BNP Paribas raised QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Friday, September 25th. Wells Fargo & Company raised QUALCOMM from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $90.00 to $120.00 in a research note on Tuesday, September 1st. Mizuho upped their price objective on QUALCOMM from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, October 19th. Finally, Citigroup upped their price objective on QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and a consensus price target of $123.12.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. Equities research analysts expect that QUALCOMM Incorporated will post 3.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $2.60 annualized dividend and a yield of 2.14%. QUALCOMM’s dividend payout ratio is 91.55%.
In other news, President Cristiano R. Amon sold 20,530 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the transaction, the president now owns 50,753 shares in the company, valued at $6,628,341.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 8,491 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $116.78, for a total value of $991,578.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,795 shares of company stock worth $4,946,452. 0.12% of the stock is owned by corporate insiders.
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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