Honeywell International Inc. bought a new position in QUALCOMM, Inc. (NASDAQ:QCOM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 480,000 shares of the wireless technology company’s stock, valued at approximately $24,883,000.
A number of other hedge funds have also bought and sold shares of the business. Westwood Holdings Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter worth $114,000. Krilogy Financial LLC lifted its stake in shares of QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after buying an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of QUALCOMM in the second quarter worth $141,000. Jacobi Capital Management LLC lifted its stake in shares of QUALCOMM by 7.8% in the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after buying an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares during the last quarter. 76.53% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on QCOM shares. William Blair restated a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, September 5th. JPMorgan Chase & Co. restated an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. Northland Securities upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price objective for the company in a research note on Friday, September 15th. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have issued a buy rating to the company. QUALCOMM has a consensus rating of “Hold” and an average price target of $66.02.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. equities analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.52%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were 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. Insiders sold a total of 29,427 shares of company stock worth $1,827,995 in the last three months. Insiders own 0.17% of the company’s stock.
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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.
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