Brighton Jones LLC decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,102 shares of the wireless technology company’s stock after selling 1,407 shares during the quarter. Brighton Jones LLC’s holdings in QUALCOMM were worth $316,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after buying an additional 11,387,347 shares during the period. Veritas Asset Management LLP acquired a new position in QUALCOMM during the 2nd quarter worth about $440,415,000. Capital International Investors lifted its holdings in QUALCOMM by 59.9% during the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after buying an additional 5,671,176 shares during the period. Maverick Capital Ltd. acquired a new position in QUALCOMM during the 2nd quarter worth about $210,548,000. Finally, Parnassus Investments CA lifted its holdings in QUALCOMM by 62.4% during the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock worth $404,819,000 after buying an additional 3,000,000 shares during the period. 76.23% of the stock is currently owned by institutional investors.
Shares of QUALCOMM, Inc. (QCOM) opened at $68.05 on Friday. QUALCOMM, Inc. has a 12-month low of $48.92 and a 12-month high of $69.28. The company has a market capitalization of $100,320.00, a PE ratio of 41.24, a P/E/G ratio of 1.94 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s payout ratio is 138.18%.
Several research analysts have commented on QCOM shares. BMO Capital Markets lifted their target price on QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, November 2nd. UBS Group raised QUALCOMM from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Royal Bank of Canada lifted their target price on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. Canaccord Genuity lifted their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and an average target price of $67.14.
In related news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold a total of 72,989 shares of company stock valued at $4,678,794 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.
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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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