New Mexico Educational Retirement Board trimmed its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,207 shares of the wireless technology company’s stock after selling 1,100 shares during the period. New Mexico Educational Retirement Board’s holdings in QUALCOMM were worth $7,061,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of QCOM. Westwood Holdings Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at about $114,000. Krilogy Financial LLC increased its position in shares of QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after acquiring an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of QUALCOMM in the second quarter valued at about $141,000. Jacobi Capital Management LLC increased its position in shares of QUALCOMM by 7.8% in the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after acquiring an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the last quarter. Institutional investors own 76.16% of the company’s stock.
In other news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. Insiders sold 53,346 shares of company stock worth $3,499,504 in the last ninety days. 0.24% of the stock is owned by company insiders.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. The firm had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. equities analysts forecast that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s payout ratio is -80.57%.
A number of research firms recently issued reports on QCOM. KeyCorp lifted their target price on QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity lifted their target price on QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 target price on the stock. in a research report on Thursday, February 1st. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $68.25.
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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