SkyBridge Capital II LLC Invests $14.26 Million in QUALCOMM Incorporated (QCOM)
SkyBridge Capital II LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 258,262 shares of the wireless technology company’s stock, valued at approximately $14,261,000. QUALCOMM makes up 3.4% of SkyBridge Capital II LLC’s holdings, making the stock its 13th largest position.
Several other large investors have also recently bought and sold shares of QCOM. FMR LLC raised its position in QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares during the period. Veritas Asset Management LLP purchased a new stake in QUALCOMM during the second quarter valued at approximately $440,415,000. Baupost Group LLC MA purchased a new stake in QUALCOMM during the first quarter valued at approximately $299,085,000. Nordea Investment Management AB raised its position in QUALCOMM by 589.4% during the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after purchasing an additional 5,054,642 shares during the period. Finally, Schroder Investment Management Group raised its position in QUALCOMM by 30.8% during the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after purchasing an additional 1,544,792 shares during the period. Institutional investors own 75.90% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $68.13 on Thursday. The stock has a market capitalization of $98,282.58, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.86 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $70.24.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. analysts forecast that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.35%. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
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A number of equities research analysts have issued reports on the company. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Royal Bank Of Canada upped their price objective on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Canaccord Genuity upped their price objective on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, November 13th. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective on the stock in a research report on Monday, November 13th. Finally, UBS AG upgraded QUALCOMM from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and an average target price of $65.42.
In related news, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold a total of 28,937 shares of company stock valued at $1,787,969 in the last 90 days. 0.17% of the stock is currently owned by company insiders.
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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