QUALCOMM, Inc. (QCOM) Holdings Reduced by Martin & Co. Inc. TN
Martin & Co. Inc. TN decreased its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 9.8% in the third quarter, Holdings Channel reports. The firm owned 31,770 shares of the wireless technology company’s stock after selling 3,450 shares during the quarter. Martin & Co. Inc. TN’s holdings in QUALCOMM were worth $1,647,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after acquiring an additional 1,537,645 shares in the last quarter. FMR LLC raised its position in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after acquiring an additional 11,387,347 shares in the last quarter. Capital International Investors raised its position in shares of QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after acquiring an additional 6,322,645 shares in the last quarter. Northern Trust Corp raised its position in shares of QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after acquiring an additional 499,531 shares in the last quarter. Finally, Veritas Asset Management LLP raised its position in shares of QUALCOMM by 68.4% in the 3rd quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock worth $696,173,000 after acquiring an additional 5,453,631 shares in the last quarter. 76.16% of the stock is owned by institutional investors and hedge funds.
Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at $61.73 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. The firm has a market capitalization of $91,000.00, a P/E ratio of -21.81, a P/E/G ratio of 1.87 and a beta of 1.38. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.69%. QUALCOMM’s dividend payout ratio is -80.57%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alexander H. Rogers sold 919 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total value of $59,110.08. Following the sale, the executive vice president now owns 11,116 shares in the company, valued at $714,981.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,346 shares of company stock worth $3,499,504. Company insiders own 0.24% of the company’s stock.
Several research analysts have recently issued reports on QCOM shares. BMO Capital Markets increased their target price on QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, November 2nd. UBS Group raised QUALCOMM from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 8th. Royal Bank of Canada increased their target price on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Canaccord Genuity increased their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $68.25.
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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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