QUALCOMM, Inc. (QCOM) Stake Lowered by TD Asset Management Inc.
TD Asset Management Inc. lessened its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,058,643 shares of the wireless technology company’s stock after selling 27,904 shares during the period. TD Asset Management Inc.’s holdings in QUALCOMM were worth $54,880,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. United Asset Strategies Inc. purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at $5,249,000. Conning Inc. raised its holdings in shares of QUALCOMM by 16.4% in the 3rd quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after buying an additional 101,483 shares during the period. Wrapmanager Inc. purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at $369,000. Stephens Inc. AR raised its holdings in shares of QUALCOMM by 10.8% in the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after buying an additional 11,232 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of QUALCOMM by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock valued at $257,798,000 after buying an additional 160,226 shares during the period. 76.23% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Canaccord Genuity boosted their price objective on QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday. Macquarie boosted their price objective on QUALCOMM from $55.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday. Mizuho reiterated a “buy” rating and issued a $75.00 price objective (up previously from $65.00) on shares of QUALCOMM in a report on Wednesday. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Nomura upgraded QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $75.00 in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $67.14.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. equities analysts expect that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.35%. QUALCOMM’s payout ratio is currently 138.18%.
In other news, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the transaction, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,989 shares of company stock worth $4,678,794. Company insiders own 0.17% of the company’s stock.
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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