Deane Retirement Strategies Inc. Reduces Stake in QUALCOMM, Inc. (QCOM)

Deane Retirement Strategies Inc. lowered its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 41,750 shares of the wireless technology company’s stock after selling 1,126 shares during the quarter. QUALCOMM comprises 2.5% of Deane Retirement Strategies Inc.’s holdings, making the stock its 7th largest holding. Deane Retirement Strategies Inc.’s holdings in QUALCOMM were worth $2,673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its position in QUALCOMM by 16.5% in 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 during the last quarter. Veritas Asset Management LLP acquired a new stake in QUALCOMM in the 2nd quarter valued at approximately $440,415,000. Capital International Investors raised its position in QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after buying an additional 6,322,645 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in QUALCOMM in the 2nd quarter valued at approximately $210,548,000. Finally, Parnassus Investments CA raised its position in QUALCOMM by 62.4% in the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after buying an additional 3,000,000 shares during the last quarter. 76.16% of the stock is currently owned by institutional investors.

QUALCOMM, Inc. (QCOM) opened at $63.99 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. The company has a market capitalization of $97,110.00, a P/E ratio of -22.61, a PEG ratio of 2.02 and a beta of 1.38.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the company posted $1.19 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. research analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 3.56%. QUALCOMM’s dividend payout ratio is currently -80.57%.

In other news, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alexander H. Rogers sold 919 shares of QUALCOMM stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the transaction, the executive vice president now owns 11,116 shares of the company’s stock, valued at $714,981.12. The disclosure for this sale can be found here. Insiders have sold a total of 53,346 shares of company stock valued at $3,499,504 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.

QCOM has been the topic of a number of recent research reports. Canaccord Genuity lifted their target price on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, November 13th. Royal Bank of Canada lifted their target price on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Vetr lowered QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 price target on the stock. in a research report on Monday, November 6th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Nomura raised QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. QUALCOMM has an average rating of “Hold” and an average price target of $68.25.

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QUALCOMM 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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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