Leavell Investment Management Inc. trimmed its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 41.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,864 shares of the wireless technology company’s stock after selling 17,076 shares during the quarter. Leavell Investment Management Inc.’s holdings in QUALCOMM were worth $1,237,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in QCOM. FMR LLC lifted its stake in shares of QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after buying an additional 11,387,347 shares in the last quarter. Veritas Asset Management LLP purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $440,415,000. Capital International Investors lifted its stake in shares of QUALCOMM by 59.9% during the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after buying an additional 5,671,176 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of QUALCOMM by 589.4% during the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $210,548,000. Institutional investors own 76.53% of the company’s stock.
In other news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,427 shares of company stock valued at $1,827,995. Corporate insiders own 0.17% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the company posted $1.28 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. research analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th were given a $0.57 dividend. The ex-dividend date was Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.52%. QUALCOMM’s dividend payout ratio is 138.18%.
A number of analysts recently weighed in on QCOM shares. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Northland Securities raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 target price on the stock in a report on Friday, September 15th. Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $66.02.
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.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).
What are top analysts saying about QUALCOMM? - 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 and related companies.