QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Lifted by IFM Investors Pty Ltd
IFM Investors Pty Ltd boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 93,795 shares of the wireless technology company’s stock after buying an additional 9,180 shares during the period. IFM Investors Pty Ltd’s holdings in QUALCOMM were worth $11,038,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in QCOM. Hexavest Inc. lifted its holdings in shares of QUALCOMM by 109.6% during the second quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 171 shares during the last quarter. Cordasco Financial Network lifted its stake in QUALCOMM by 96.4% in the 3rd quarter. Cordasco Financial Network now owns 377 shares of the wireless technology company’s stock worth $44,000 after acquiring an additional 185 shares in the last quarter. Hoover Financial Advisors Inc. purchased a new stake in QUALCOMM in the 2nd quarter worth about $46,000. S.A. Mason LLC lifted its stake in QUALCOMM by 70.4% in the 2nd quarter. S.A. Mason LLC now owns 605 shares of the wireless technology company’s stock worth $55,000 after acquiring an additional 250 shares in the last quarter. Finally, Tarbox Family Office Inc. lifted its stake in QUALCOMM by 35.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 616 shares of the wireless technology company’s stock worth $56,000 after acquiring an additional 162 shares in the last quarter. 74.79% of the stock is owned by institutional investors and hedge funds.
QCOM traded up $0.45 during midday trading on Friday, reaching $129.03. The company’s stock had a trading volume of 6,626,992 shares, compared to its average volume of 10,243,579. The stock has a market cap of $145.58 billion, a P/E ratio of 54.44, a PEG ratio of 1.79 and a beta of 1.36. The company has a fifty day simple moving average of $117.35 and a 200 day simple moving average of $95.14. The company has a current ratio of 1.97, a quick ratio of 1.67 and a debt-to-equity ratio of 4.67. QUALCOMM Incorporated has a twelve month low of $58.00 and a twelve month high of $132.42.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio (DPR) is currently 91.55%.
In other QUALCOMM news, EVP Donald J. Rosenberg sold 10,720 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $118.27, for a total value of $1,267,854.40. Following the completion of the sale, the executive vice president now owns 9,292 shares in the company, valued at approximately $1,098,964.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Cristiano R. Amon sold 20,530 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total value of $2,681,218.00. Following the completion of the sale, the president now owns 50,753 shares of the company’s stock, valued at approximately $6,628,341.80. The disclosure for this sale can be found here. Insiders sold a total of 43,720 shares of company stock worth $5,348,451 in the last ninety days. Insiders own 0.12% of the company’s stock.
Several equities research analysts recently issued reports on QCOM shares. Wells Fargo & Company raised QUALCOMM from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $90.00 to $120.00 in a research note on Tuesday, September 1st. Piper Sandler increased their price objective on QUALCOMM from $80.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Exane BNP Paribas raised QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 price objective for the company in a research note on Friday, September 25th. Royal Bank of Canada upped their target price on QUALCOMM from $81.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. They noted that the move was a valuation call. Finally, Raymond James upped their target price on QUALCOMM from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $121.58.
QUALCOMM Company Profile
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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