Bbva Compass Bancshares Inc. trimmed its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,888 shares of the wireless technology company’s stock after selling 1,482 shares during the period. Bbva Compass Bancshares Inc.’s holdings in QUALCOMM were worth $5,754,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of QCOM. Oregon Public Employees Retirement Fund grew its holdings in shares of QUALCOMM by 9,505.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after buying an additional 33,262,770 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of QUALCOMM by 24.1% during the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after buying an additional 5,022,323 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of QUALCOMM by 0.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock valued at $1,147,095,000 after buying an additional 96,527 shares during the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $736,806,000. Finally, Eaton Vance Management grew its holdings in shares of QUALCOMM by 10.3% during the fourth quarter. Eaton Vance Management now owns 7,306,885 shares of the wireless technology company’s stock valued at $415,835,000 after buying an additional 680,397 shares during the last quarter. 76.38% of the stock is owned by hedge funds and other institutional investors.
QCOM traded up $0.70 during trading on Tuesday, hitting $71.24. The company’s stock had a trading volume of 11,187,301 shares, compared to its average volume of 18,790,480. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $90.34. The company has a market capitalization of $83.51 billion, a PE ratio of 22.33, a PEG ratio of 1.52 and a beta of 1.59.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 annualized dividend and a dividend yield of 3.48%. QUALCOMM’s payout ratio is 77.74%.
A number of research firms have recently commented on QCOM. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Wednesday, February 13th. Barclays increased their price target on shares of QUALCOMM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. assumed coverage on shares of QUALCOMM in a report on Wednesday, March 27th. They set a “neutral” rating and a $54.00 price target on the stock. Raymond James raised their target price on shares of QUALCOMM from $65.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Canaccord Genuity restated a “buy” rating and issued a $89.00 target price (up previously from $75.00) on shares of QUALCOMM in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. QUALCOMM presently has an average rating of “Buy” and an average target price of $79.68.
In other news, Director Clark T. Jr. Randt sold 2,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total transaction of $179,160.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Cristiano R. Amon sold 13,466 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total transaction of $807,960.00. Following the sale, the president now owns 37,614 shares in the company, valued at $2,256,840. The disclosure for this sale can be found here. Insiders have sold a total of 949,832 shares of company stock worth $37,443,538 over the last 90 days. Insiders own 0.11% of the company’s stock.
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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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