QUALCOMM, Inc. (QCOM) Holdings Reduced by Verity Asset Management Inc.
Verity Asset Management Inc. decreased its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 32.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,844 shares of the wireless technology company’s stock after selling 2,280 shares during the period. Verity Asset Management Inc.’s holdings in QUALCOMM were worth $249,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Westwood Holdings Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $114,000. Krilogy Financial LLC raised its position in shares of QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after acquiring an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of QUALCOMM in the 2nd quarter worth approximately $141,000. Jacobi Capital Management LLC raised its position in shares of QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after acquiring an additional 200 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares during the last quarter. 76.31% of the stock is owned by institutional investors and hedge funds.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $68.67 on Tuesday. QUALCOMM, Inc. has a twelve month low of $48.92 and a twelve month high of $69.28. The company has a market capitalization of $100,725.40, a price-to-earnings ratio of 41.62, a P/E/G ratio of 1.93 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors 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 yield of 3.32%. QUALCOMM’s dividend payout ratio is currently 138.18%.
Several brokerages have commented on QCOM. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a research note on Monday, November 13th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Canaccord Genuity raised their price target on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Citigroup raised their price target on QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Standpoint Research downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $67.14.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at $824,638.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the firm’s 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. Over the last three months, insiders have sold 72,989 shares of company stock worth $4,678,794. Insiders own 0.24% of the company’s stock.
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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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