Adalta Capital Management LLC Cuts Position in QUALCOMM, Inc. (QCOM)
Adalta Capital Management LLC reduced its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 56,650 shares of the wireless technology company’s stock after selling 2,100 shares during the period. QUALCOMM accounts for about 2.4% of Adalta Capital Management LLC’s holdings, making the stock its 17th largest holding. Adalta Capital Management LLC’s holdings in QUALCOMM were worth $2,937,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in QUALCOMM by 1.5% in the 2nd 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 in the last quarter. FMR LLC increased its holdings in QUALCOMM by 16.5% in the 2nd 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 in the last quarter. Capital International Investors increased its holdings in QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after purchasing an additional 6,322,645 shares in the last quarter. Northern Trust Corp grew its stake in shares of 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 acquiring an additional 499,531 shares in the last quarter. Finally, Veritas Asset Management LLP grew its stake in shares of QUALCOMM by 68.4% during the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock valued at $696,173,000 after acquiring an additional 5,453,631 shares in the last quarter. 76.16% of the stock is currently owned by institutional investors and hedge funds.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $65.04 on Thursday. The company has a market capitalization of $96,280.00, a PE ratio of -22.98, a P/E/G ratio of 1.92 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 company has a quick ratio of 3.25, a current ratio of 3.41 and a debt-to-equity ratio of 0.81.
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 issued a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a yield of 3.51%. QUALCOMM’s dividend payout ratio is currently -80.57%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total value of $59,110.08. Following the transaction, the executive vice president now owns 11,116 shares of the company’s stock, valued at $714,981.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the transaction, the executive vice president now directly owns 10,403 shares in the company, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders sold 53,346 shares of company stock worth $3,499,504 in the last three months. 0.24% of the stock is currently owned by corporate insiders.
QCOM has been the subject of several recent analyst reports. UBS Group lowered their target price on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Mizuho restated a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Finally, Canaccord Genuity raised their target price on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and an average price target of $68.25.
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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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