Capital International Investors Cuts Stake in QUALCOMM, Inc. (NASDAQ:QCOM)
Capital International Investors lowered its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 23.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,502,198 shares of the wireless technology company’s stock after selling 5,072,216 shares during the period. Capital International Investors’ holdings in QUALCOMM were worth $1,455,989,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position in shares of QUALCOMM by 346.1% in the fourth quarter. Renaissance Technologies LLC now owns 5,756,507 shares of the wireless technology company’s stock valued at $507,897,000 after purchasing an additional 4,466,107 shares in the last quarter. Janus Henderson Group PLC raised its holdings in QUALCOMM by 238.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,558,447 shares of the wireless technology company’s stock valued at $402,193,000 after buying an additional 3,213,243 shares during the last quarter. Alliancebernstein L.P. raised its holdings in QUALCOMM by 110.4% in the 4th quarter. Alliancebernstein L.P. now owns 5,969,697 shares of the wireless technology company’s stock valued at $526,706,000 after buying an additional 3,132,675 shares during the last quarter. FMR LLC raised its holdings in QUALCOMM by 2.6% in the 4th quarter. FMR LLC now owns 56,173,678 shares of the wireless technology company’s stock valued at $4,956,204,000 after buying an additional 1,433,849 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in QUALCOMM by 6,699.1% in the 4th quarter. Fred Alger Management LLC now owns 1,393,746 shares of the wireless technology company’s stock valued at $122,970,000 after buying an additional 1,373,247 shares during the last quarter. Hedge funds and other institutional investors own 77.13% of the company’s stock.
In other QUALCOMM news, EVP Alexander H. Rogers sold 735 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $95.37, for a total value of $70,096.95. Following the transaction, the executive vice president now owns 14,247 shares of the company’s stock, valued at $1,358,736.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 5,237 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $89.00, for a total value of $466,093.00. Following the completion of the transaction, the chief financial officer now directly owns 19,018 shares in the company, valued at approximately $1,692,602. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,562 shares of company stock valued at $873,650. 0.12% of the stock is owned by corporate insiders.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.14. QUALCOMM had a return on equity of 66.54% and a net margin of 17.31%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Analysts predict that QUALCOMM, Inc. will post 3.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.58%. QUALCOMM’s dividend payout ratio is presently 87.32%.
QCOM has been the subject of a number of research reports. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Wednesday, January 15th. Cowen boosted their target price on QUALCOMM from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $108.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Daiwa Capital Markets upgraded QUALCOMM from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 11th. Finally, BNP Paribas downgraded QUALCOMM from an “outperform” rating to an “underperform” rating and set a $65.00 target price for the company. in a research report on Tuesday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $91.33.
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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