QUALCOMM Incorporated (QCOM) Stake Increased by Gyroscope Capital Management Group LLC
Gyroscope Capital Management Group LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,554 shares of the wireless technology company’s stock after buying an additional 6,886 shares during the quarter. QUALCOMM makes up approximately 2.7% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 16th largest holding. Gyroscope Capital Management Group LLC’s holdings in QUALCOMM were worth $5,387,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in QUALCOMM by 1.5% during the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after purchasing an additional 1,537,645 shares during the last quarter. FMR LLC lifted its holdings in QUALCOMM by 16.5% during the second 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. Northern Trust Corp lifted its holdings in QUALCOMM by 2.6% during the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after purchasing an additional 499,531 shares during the last quarter. Capital International Investors lifted its holdings in QUALCOMM by 59.9% during the second 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. Finally, Artisan Partners Limited Partnership lifted its holdings in QUALCOMM by 3.1% during the second quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock valued at $537,426,000 after purchasing an additional 288,413 shares during the last quarter. Institutional investors own 76.66% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $64.69 on Wednesday. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The company has a market cap of $95,172.09, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. equities research analysts predict that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is currently 138.18%.
In other news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold 29,427 shares of company stock worth $1,827,995 over the last quarter. Company insiders own 0.24% of the company’s stock.
QCOM has been the topic of several recent research reports. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective on shares of QUALCOMM in a report on Thursday, August 24th. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Finally, Northland Securities raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target on the stock in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $66.02.
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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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