Virginia Retirement Systems ET AL reduced its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 47.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,800 shares of the wireless technology company’s stock after selling 37,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in QUALCOMM were worth $2,115,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Pennsylvania Trust Co boosted its holdings in QUALCOMM by 25.9% in the second quarter. Pennsylvania Trust Co now owns 143,926 shares of the wireless technology company’s stock worth $7,953,000 after purchasing an additional 29,612 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in QUALCOMM by 985.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 971,783 shares of the wireless technology company’s stock worth $53,660,000 after purchasing an additional 882,287 shares in the last quarter. Burke & Herbert Bank & Trust Co. boosted its holdings in QUALCOMM by 14.3% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 10,564 shares of the wireless technology company’s stock worth $583,000 after purchasing an additional 1,319 shares in the last quarter. Bank of The West boosted its holdings in QUALCOMM by 9.2% in the second quarter. Bank of The West now owns 30,458 shares of the wireless technology company’s stock worth $1,682,000 after purchasing an additional 2,563 shares in the last quarter. Finally, Arvest Bank Trust Division boosted its holdings in QUALCOMM by 1.3% during the second quarter. Arvest Bank Trust Division now owns 230,297 shares of the wireless technology company’s stock valued at $12,717,000 after acquiring an additional 3,059 shares during the period. Institutional investors and hedge funds own 76.31% of the company’s stock.
QUALCOMM, Inc. (NASDAQ:QCOM) opened at $68.04 on Monday. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. The stock has a market cap of $100,300.00, a PE ratio of 41.24, a P/E/G ratio of 1.93 and a beta of 1.39.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
A number of research firms have issued reports on QCOM. UBS Group decreased their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a report on Monday, November 6th. Wells Fargo & Co cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a report on Monday, November 6th. Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Royal Bank of Canada upgraded shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $70.00 in a report on Wednesday, November 8th. Finally, Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $67.14.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 874 shares of the company’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 in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders have sold 72,989 shares of company stock worth $4,678,794 over the last ninety days. 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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