Northern Capital Management LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 43.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,172 shares of the wireless technology company’s stock after buying an additional 23,712 shares during the period. QUALCOMM makes up about 1.8% of Northern Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Northern Capital Management LLC’s holdings in QUALCOMM were worth $4,482,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of QCOM. SOL Capital Management CO boosted its position in QUALCOMM by 2.8% in the third quarter. SOL Capital Management CO now owns 8,718 shares of the wireless technology company’s stock worth $597,000 after buying an additional 240 shares in the last quarter. Nordea Investment Management AB boosted its position in QUALCOMM by 14.2% in the third quarter. Nordea Investment Management AB now owns 798,311 shares of the wireless technology company’s stock worth $54,684,000 after buying an additional 99,204 shares in the last quarter. TT International boosted its position in QUALCOMM by 101.5% in the third quarter. TT International now owns 107,392 shares of the wireless technology company’s stock worth $7,356,000 after buying an additional 54,100 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in QUALCOMM during the third quarter worth $8,700,000. Finally, APG Asset Management N.V. boosted its position in QUALCOMM by 9.3% in the third quarter. APG Asset Management N.V. now owns 3,381,054 shares of the wireless technology company’s stock worth $231,602,000 after buying an additional 287,978 shares in the last quarter. Institutional investors own 78.00% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) traded down 0.19% during trading on Friday, reaching $56.82. The company had a trading volume of 14,555,633 shares. QUALCOMM Incorporated has a 12 month low of $50.84 and a 12 month high of $71.62. The stock’s 50-day moving average price is $56.60 and its 200-day moving average price is $58.67. The stock has a market capitalization of $83.95 billion, a PE ratio of 18.93 and a beta of 1.25.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.29. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. QUALCOMM had a return on equity of 21.32% and a net margin of 19.25%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. Equities analysts forecast that QUALCOMM Incorporated will post $4.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 31st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.01%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s dividend payout ratio is presently 76.00%.
A number of equities analysts have recently weighed in on the company. Standpoint Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Friday, April 28th. Mizuho reiterated a “buy” rating and set a $68.00 price target (down from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 price target on shares of QUALCOMM in a report on Thursday, February 16th. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price for the company. in a report on Tuesday, May 2nd. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of QUALCOMM in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $64.41.
In related news, President Derek K. Aberle sold 22,251 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the completion of the sale, the president now directly owns 28,959 shares in the company, valued at $1,667,748.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michelle M. Sterling sold 5,509 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. Insiders sold 63,931 shares of company stock valued at $3,536,013 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.
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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