Robecosam AG increased its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.1% during the second quarter, HoldingsChannel.com reports. The firm owned 770,000 shares of the wireless technology company’s stock after acquiring an additional 30,000 shares during the quarter. QUALCOMM accounts for 1.8% of Robecosam AG’s investment portfolio, making the stock its 14th largest holding. Robecosam AG’s holdings in QUALCOMM were worth $43,043,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of QCOM. Bank of New York Mellon Corp raised its position in QUALCOMM by 13.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock worth $1,170,308,000 after purchasing an additional 2,463,511 shares during the period. Artisan Partners Limited Partnership increased its position in shares of QUALCOMM by 22.4% in the first quarter. Artisan Partners Limited Partnership now owns 11,014,540 shares of the wireless technology company’s stock valued at $610,316,000 after acquiring an additional 2,018,241 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of QUALCOMM by 17.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 9,364,599 shares of the wireless technology company’s stock valued at $518,893,000 after acquiring an additional 1,419,275 shares during the period. Montag & Caldwell LLC increased its position in shares of QUALCOMM by 31,204.1% in the first quarter. Montag & Caldwell LLC now owns 1,341,066 shares of the wireless technology company’s stock valued at $74,308,000 after acquiring an additional 1,336,782 shares during the period. Finally, FIL Ltd increased its position in shares of QUALCOMM by 36.5% in the first quarter. FIL Ltd now owns 3,253,065 shares of the wireless technology company’s stock valued at $180,252,000 after acquiring an additional 869,659 shares during the period. Institutional investors own 77.42% of the company’s stock.
A number of equities analysts have issued reports on QCOM shares. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Canaccord Genuity boosted their price objective on shares of QUALCOMM from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Summit Insights upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Monday, July 30th. Finally, Rosenblatt Securities upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $70.00 in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $67.34.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.30. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.19 billion. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. research analysts expect that QUALCOMM, Inc. will post 3.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 5th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, September 4th. QUALCOMM’s payout ratio is 65.61%.
QUALCOMM announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 9th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
In other news, EVP Alexander H. Rogers sold 828 shares of QUALCOMM stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $63.40, for a total transaction of $52,495.20. Following the sale, the executive vice president now owns 7,170 shares of the company’s stock, valued at approximately $454,578. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 1,052 shares of QUALCOMM stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $59.55, for a total transaction of $62,646.60. Following the sale, the executive vice president now directly owns 8,787 shares in the company, valued at approximately $523,265.85. The disclosure for this sale can be found here. Insiders have sold a total of 2,669 shares of company stock worth $159,760 in the last ninety days. Insiders own 0.24% of the company’s stock.
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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