Quantbot Technologies LP decreased its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 32.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,026 shares of the wireless technology company’s stock after selling 8,280 shares during the period. Quantbot Technologies LP’s holdings in QUALCOMM were worth $1,226,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in QCOM. Ascension Asset Management LLC boosted its holdings in QUALCOMM by 3.2% in the second quarter. Ascension Asset Management LLC now owns 25,542 shares of the wireless technology company’s stock worth $1,433,000 after acquiring an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. boosted its holdings in QUALCOMM by 1.3% in the third quarter. Accurate Investment Solutions Inc. now owns 62,870 shares of the wireless technology company’s stock worth $4,529,000 after acquiring an additional 804 shares in the last quarter. KCM Investment Advisors LLC boosted its holdings in QUALCOMM by 7.8% in the second quarter. KCM Investment Advisors LLC now owns 11,113 shares of the wireless technology company’s stock worth $624,000 after acquiring an additional 808 shares in the last quarter. Securian Asset Management Inc boosted its holdings in QUALCOMM by 0.6% in the second quarter. Securian Asset Management Inc now owns 150,716 shares of the wireless technology company’s stock worth $8,458,000 after acquiring an additional 832 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC boosted its holdings in QUALCOMM by 25.9% in the third quarter. Massey Quick Simon & CO. LLC now owns 4,046 shares of the wireless technology company’s stock worth $291,000 after acquiring an additional 832 shares in the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.
In related news, EVP Alexander H. Rogers sold 854 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $72.18, for a total transaction of $61,641.72. Following the transaction, the executive vice president now owns 5,197 shares of the company’s stock, valued at approximately $375,119.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Cristiano R. Amon sold 88,625 shares of the stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total value of $6,098,286.25. Following the transaction, the president now directly owns 58,045 shares in the company, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,629 shares of company stock worth $6,561,814. Corporate insiders own 0.24% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.20. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.54 billion. QUALCOMM had a positive return on equity of 26.21% and a negative net margin of 21.40%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Equities analysts anticipate that QUALCOMM, Inc. will post 3.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
QCOM has been the subject of a number of research reports. BidaskClub downgraded QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Canaccord Genuity decreased their target price on QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, September 25th. Morgan Stanley raised QUALCOMM from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 15th. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research raised QUALCOMM from a “hold” rating to a “strong-buy” rating and set a $63.00 target price for the company in a report on Wednesday, November 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $70.44.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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