QUALCOMM Incorporated (QCOM) Stake Decreased by Texas Permanent School Fund

Texas Permanent School Fund lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 431,565 shares of the wireless technology company’s stock after selling 10,855 shares during the period. Texas Permanent School Fund’s holdings in QUALCOMM were worth $24,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loomis Sayles & Co. L P boosted its stake in QUALCOMM by 3.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 16,458,657 shares of the wireless technology company’s stock worth $1,073,104,000 after buying an additional 531,407 shares in the last quarter. Norges Bank bought a new stake in QUALCOMM during the fourth quarter worth approximately $922,599,000. Fisher Asset Management LLC boosted its stake in QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock worth $575,769,000 after buying an additional 352,962 shares in the last quarter. Swiss National Bank boosted its stake in QUALCOMM by 27.5% in the first quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock worth $300,070,000 after buying an additional 1,128,700 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in QUALCOMM by 0.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,508,344 shares of the wireless technology company’s stock worth $258,508,000 after buying an additional 32,884 shares in the last quarter. Institutional investors own 76.59% of the company’s stock.

QUALCOMM Incorporated (QCOM) traded down 0.67% during mid-day trading on Friday, reaching $51.92. 6,696,408 shares of the company traded hands. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62. The company has a market capitalization of $76.64 billion, a P/E ratio of 19.89 and a beta of 1.29. The stock has a 50 day moving average price of $54.04 and a 200-day moving average price of $55.54.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the business earned $1.16 earnings per share. QUALCOMM’s revenue for the quarter was down 11.1% compared to the same quarter last year. Analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.39%. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.

TRADEMARK VIOLATION WARNING: This piece was published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.com-unik.info/2017/08/19/texas-permanent-school-fund-has-24-75-million-position-in-qualcomm-incorporated-qcom-updated-updated-updated.html.

Several analysts recently issued reports on the stock. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $75.00 to $62.50 in a research note on Wednesday, June 28th. Finally, Vetr raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target for the company in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.96.

In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the transaction, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at $174,646.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,101 shares of company stock valued at $2,955,612. 0.17% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

What are top analysts saying about QUALCOMM Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for QUALCOMM Incorporated and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit