Banco Santander S.A. increased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 12.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,743 shares of the wireless technology company’s stock after purchasing an additional 3,800 shares during the period. Banco Santander S.A.’s holdings in QUALCOMM were worth $2,650,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $66,793,000. Northwestern Mutual Investment Management Company LLC increased its holdings in QUALCOMM by 0.4% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 46,294 shares of the wireless technology company’s stock valued at $3,531,000 after acquiring an additional 182 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in QUALCOMM in the 3rd quarter valued at $11,687,000. Balasa Dinverno & Foltz LLC increased its holdings in QUALCOMM by 18.4% in the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 4,093 shares of the wireless technology company’s stock valued at $312,000 after acquiring an additional 637 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in QUALCOMM in the 3rd quarter valued at $1,176,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.
In other news, President Cristiano R. Amon sold 8,611 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.03, for a total value of $689,138.33. Following the sale, the president now directly owns 50,434 shares in the company, valued at approximately $4,036,233.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michelle M. Sterling sold 10,398 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $779,953.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,118 shares of company stock worth $1,477,392. Insiders own 0.11% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s quarterly revenue was down 17.2% on a year-over-year basis. As a group, sell-side analysts expect that QUALCOMM, Inc. will post 3.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.74%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.
A number of brokerages have issued reports on QCOM. Daiwa Capital Markets began coverage on shares of QUALCOMM in a report on Thursday, July 18th. They issued a “neutral” rating on the stock. Canaccord Genuity lifted their price target on shares of QUALCOMM from $87.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Argus lifted their price target on shares of QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Finally, Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal” rating and lifted their price target for the company from $89.00 to $90.00 in a report on Monday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.22.
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.
Featured Article: How to Trade Using Analysts Ratings
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.