Ancora Advisors LLC trimmed its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 12.1% in the third quarter, HoldingsChannel reports. The firm owned 21,550 shares of the wireless technology company’s stock after selling 2,974 shares during the period. Ancora Advisors LLC’s holdings in QUALCOMM were worth $1,644,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in QCOM. Jennison Associates LLC increased its holdings in QUALCOMM by 996.4% during the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after purchasing an additional 13,893,238 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 49.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock valued at $2,672,850,000 after purchasing an additional 11,686,131 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in QUALCOMM by 1,405.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 11,560,171 shares of the wireless technology company’s stock valued at $879,382,000 after purchasing an additional 10,792,248 shares in the last quarter. Morgan Stanley increased its holdings in QUALCOMM by 126.9% during the 2nd quarter. Morgan Stanley now owns 15,465,753 shares of the wireless technology company’s stock valued at $1,176,482,000 after purchasing an additional 8,648,635 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of QUALCOMM by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock valued at $7,599,444,000 after buying an additional 2,296,163 shares during the period. 77.39% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Alexander H. Rogers sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $85.07, for a total value of $1,276,050.00. Following the transaction, the executive vice president now directly owns 22,832 shares in the company, valued at approximately $1,942,318.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cristiano R. Amon sold 19,045 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $85.18, for a total value of $1,622,253.10. Following the completion of the transaction, the president now owns 58,780 shares in the company, valued at $5,006,880.40. The disclosure for this sale can be found here. Insiders sold a total of 56,244 shares of company stock worth $4,637,429 over the last 90 days. 0.11% of the stock is owned by corporate insiders.
NASDAQ:QCOM opened at $84.80 on Friday. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $94.11. The company has a quick ratio of 1.72, a current ratio of 1.88 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $97.39 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.76 and a beta of 1.59. The stock’s fifty day simple moving average is $83.41 and its 200-day simple moving average is $76.69.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. QUALCOMM had a return on equity of 77.78% and a net margin of 18.07%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period last year, the company earned $0.90 EPS. The firm’s revenue was down 17.2% on a year-over-year basis. As a group, equities research analysts expect that QUALCOMM, Inc. will post 3.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $2.48 annualized dividend and a dividend yield of 2.92%. QUALCOMM’s dividend payout ratio is currently 87.32%.
Several research firms have recently commented on QCOM. BidaskClub cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. DZ Bank raised QUALCOMM from a “sell” rating to a “hold” rating and set a $92.00 target price for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $88.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their target price on QUALCOMM to $88.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $95.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $85.60.
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.
Further Reading: Sell-Side Analysts
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