American Century Companies Inc. cut its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,676,670 shares of the wireless technology company’s stock after selling 199,952 shares during the quarter. American Century Companies Inc. owned 0.11% of QUALCOMM worth $120,771,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in QUALCOMM by 9,686.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 74,282 shares of the wireless technology company’s stock worth $105,000 after purchasing an additional 73,523 shares during the last quarter. Squar Milner Financial Services LLC acquired a new position in QUALCOMM during the second quarter worth $106,000. Kiley Juergens Wealth Management LLC raised its holdings in QUALCOMM by 1,760.0% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock worth $133,000 after purchasing an additional 1,760 shares during the last quarter. MinichMacGregor Wealth Management LLC raised its holdings in QUALCOMM by 170.9% during the third quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock worth $134,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its position in QUALCOMM by 151.8% during the third quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock worth $143,000 after buying an additional 1,201 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.
In other news, President Cristiano R. Amon sold 88,625 shares of QUALCOMM stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total value of $6,098,286.25. Following the completion of the sale, the president now owns 58,045 shares of the company’s stock, valued at $3,994,076.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction on Monday, October 29th. The shares were sold at an average price of $63.50, for a total value of $54,165.50. Following the completion of the sale, the executive vice president now directly owns 4,344 shares of the company’s stock, valued at approximately $275,844. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,638 shares of company stock valued at $6,302,079. Company insiders own 0.17% of the company’s stock.
Shares of NASDAQ:QCOM opened at $56.72 on Friday. The firm has a market capitalization of $92.86 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.96 and a beta of 1.69. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.50.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.20. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.54 billion. QUALCOMM had a positive return on equity of 19.92% and a negative net margin of 21.40%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, research analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
QUALCOMM announced that its board has initiated a share buyback plan on Thursday, July 26th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the wireless technology company to reacquire up to 34.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s dividend payout ratio is currently 77.74%.
QCOM has been the subject of several recent research reports. Deutsche Bank raised their price target on QUALCOMM to $60.00 and gave the stock a “hold” rating in a research report on Monday, July 23rd. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Cowen raised their price target on QUALCOMM from $58.00 to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, July 26th. Stifel Nicolaus raised their price target on QUALCOMM from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Finally, BMO Capital Markets raised their price target on QUALCOMM to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.86.
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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