Sullivan Bruyette Speros & Blaney LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,761 shares of the wireless technology company’s stock after purchasing an additional 259 shares during the quarter. Sullivan Bruyette Speros & Blaney LLC’s holdings in QUALCOMM were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Veritas Asset Management LLP purchased a new stake in shares of QUALCOMM in the second quarter worth approximately $440,415,000. Baupost Group LLC MA purchased a new stake in shares of QUALCOMM in the first quarter worth approximately $299,085,000. Nordea Investment Management AB lifted its position in shares of QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after purchasing an additional 5,054,642 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after purchasing an additional 1,544,792 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in shares of QUALCOMM in the second quarter worth approximately $82,556,000. 76.77% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price target on shares of QUALCOMM in a research report on Thursday, August 24th. Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a research report on Wednesday, July 19th. Mizuho reissued a “buy” rating and issued a $65.00 price target on shares of QUALCOMM in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of QUALCOMM in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $63.80.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 5,837 shares of company stock worth $303,249 over the last ninety days. 0.24% of the stock is currently owned by insiders.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 51.01 on Wednesday. The firm’s 50 day moving average price is $52.45 and its 200-day moving average price is $54.07. The company has a market capitalization of $75.29 billion, a PE ratio of 19.54 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
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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