Jacobs & Co. CA reduced its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 110,450 shares of the wireless technology company’s stock after selling 2,643 shares during the quarter. QUALCOMM comprises approximately 1.4% of Jacobs & Co. CA’s investment portfolio, making the stock its 27th largest position. Jacobs & Co. CA’s holdings in QUALCOMM were worth $8,425,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Jennison Associates LLC raised its stake in QUALCOMM by 996.4% in 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 during the last quarter. Price T Rowe Associates Inc. MD raised its stake in QUALCOMM by 49.8% in 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 during the last quarter. Nuveen Asset Management LLC raised its stake in QUALCOMM by 1,405.4% in 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 during the last quarter. Morgan Stanley raised its stake in QUALCOMM by 126.9% in 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 during the last quarter. Finally, Vanguard Group Inc. raised its stake in 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 purchasing an additional 2,296,163 shares during the last quarter. 78.30% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Morgan Stanley set a $89.00 target price on QUALCOMM and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Canaccord Genuity raised their target price on QUALCOMM from $87.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America cut their target price on QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of QUALCOMM in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Buy” and an average price target of $85.18.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.07. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The firm’s revenue was down 17.2% on a year-over-year basis. As a group, analysts anticipate that QUALCOMM, Inc. will post 3.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s payout ratio is presently 87.32%.
In related news, President Cristiano R. Amon sold 8,611 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $80.03, for a total value of $689,138.33. Following the completion of the transaction, the president now directly owns 50,434 shares of the company’s stock, valued at approximately $4,036,233.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark D. Mclaughlin bought 2,705 shares of QUALCOMM stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average cost of $73.84 per share, with a total value of $199,737.20. Following the completion of the purchase, the director now owns 5,220 shares in the company, valued at approximately $385,444.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 19,118 shares of company stock valued at $1,477,392. Company insiders own 0.11% 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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