Forsta AP Fonden lessened its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 605,545 shares of the wireless technology company’s stock after selling 28,600 shares during the quarter. QUALCOMM makes up 1.3% of Forsta AP Fonden’s investment portfolio, making the stock its 20th largest holding. Forsta AP Fonden’s holdings in QUALCOMM were worth $33,983,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Telemus Capital LLC increased its holdings in QUALCOMM by 8.7% during the 2nd quarter. Telemus Capital LLC now owns 9,860 shares of the wireless technology company’s stock worth $553,000 after purchasing an additional 787 shares during the period. Ascension Asset Management LLC increased its holdings in QUALCOMM by 3.2% during the 2nd quarter. Ascension Asset Management LLC now owns 25,542 shares of the wireless technology company’s stock worth $1,433,000 after purchasing an additional 800 shares during the period. KCM Investment Advisors LLC increased its holdings in QUALCOMM by 7.8% during the 2nd quarter. KCM Investment Advisors LLC now owns 11,113 shares of the wireless technology company’s stock worth $624,000 after purchasing an additional 808 shares during the period. Bradley Foster & Sargent Inc. CT increased its holdings in QUALCOMM by 2.9% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 29,757 shares of the wireless technology company’s stock worth $1,670,000 after purchasing an additional 825 shares during the period. Finally, Securian Asset Management Inc increased its holdings in QUALCOMM by 0.6% during the 2nd quarter. Securian Asset Management Inc now owns 150,716 shares of the wireless technology company’s stock worth $8,458,000 after purchasing an additional 832 shares during the period. Hedge funds and other institutional investors own 77.39% of the company’s stock.
In other QUALCOMM news, EVP Alexander H. Rogers sold 828 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $63.40, for a total transaction of $52,495.20. Following the completion of the sale, the executive vice president now directly owns 7,170 shares of the company’s stock, valued at approximately $454,578. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 854 shares of the stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $72.18, for a total value of $61,641.72. Following the sale, the executive vice president now directly owns 5,197 shares of the company’s stock, valued at $375,119.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,988 shares of company stock valued at $202,122. Insiders own 0.24% of the company’s stock.
Shares of NASDAQ QCOM traded down $1.17 during trading hours on Friday, reaching $71.21. The stock had a trading volume of 11,734,918 shares, compared to its average volume of 11,755,862. The stock has a market cap of $105.82 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 2.12 and a beta of 1.66. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.30. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.19 billion. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Sell-side analysts anticipate that QUALCOMM, Inc. will post 3.12 earnings per share for the current year.
QUALCOMM announced that its board has authorized a share repurchase program on Thursday, July 26th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the wireless technology company to purchase up to 34.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 26th. Investors of record on Wednesday, September 5th were given a $0.62 dividend. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. QUALCOMM’s dividend payout ratio (DPR) is presently 65.61%.
Several equities research analysts have weighed in on the company. Tigress Financial restated a “buy” rating on shares of QUALCOMM in a report on Friday, September 28th. Stifel Nicolaus upped their price objective on QUALCOMM from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Thursday, September 27th. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Canaccord Genuity lowered their price objective on QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. Finally, KeyCorp assumed coverage on QUALCOMM in a research report on Tuesday, September 25th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company’s stock. QUALCOMM presently has an average rating of “Buy” and an average target price of $71.12.
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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