Coastline Trust Co cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,941 shares of the wireless technology company’s stock after selling 1,275 shares during the period. Coastline Trust Co’s holdings in QUALCOMM were worth $4,112,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its position in QUALCOMM by 10.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 8,645 shares of the wireless technology company’s stock worth $585,000 after purchasing an additional 830 shares in the last quarter. Balyasny Asset Management LLC increased its position in shares of QUALCOMM by 649.1% in the first quarter. Balyasny Asset Management LLC now owns 41,776 shares of the wireless technology company’s stock worth $2,826,000 after acquiring an additional 36,199 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of QUALCOMM by 75.8% in the 1st quarter. APG Asset Management N.V. now owns 1,764,837 shares of the wireless technology company’s stock valued at $119,391,000 after acquiring an additional 760,900 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of QUALCOMM by 11.9% during the 1st quarter. CWA Asset Management Group LLC now owns 111,078 shares of the wireless technology company’s stock valued at $7,514,000 after acquiring an additional 11,831 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its position in QUALCOMM by 128.7% during the 1st quarter. CIBC World Markets Inc. now owns 285,313 shares of the wireless technology company’s stock worth $19,301,000 after purchasing an additional 160,550 shares during the period. Institutional investors own 74.79% of the company’s stock.
Shares of NASDAQ QCOM traded up $0.45 during trading on Friday, reaching $129.03. The stock had a trading volume of 6,626,992 shares, compared to its average volume of 10,243,579. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97. The stock has a market cap of $145.58 billion, a PE ratio of 54.44, a P/E/G ratio of 1.79 and a beta of 1.36. QUALCOMM Incorporated has a one year low of $58.00 and a one year high of $132.42. The firm’s 50 day moving average price is $117.35 and its two-hundred day moving average price is $95.14.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s payout ratio is currently 91.55%.
Several equities research analysts have recently weighed in on the company. Barclays upped their target price on QUALCOMM from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 29th. Rosenblatt Securities upped their price target on QUALCOMM from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Sanford C. Bernstein set a $135.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research note on Tuesday, August 11th. BidaskClub upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Wednesday, September 30th. Finally, Bank of America lifted their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. QUALCOMM presently has an average rating of “Buy” and an average target price of $121.58.
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,925 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $102.42, for a total value of $401,998.50. Following the sale, the chief financial officer now directly owns 17,790 shares in the company, valued at $1,822,051.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Cristiano R. Amon sold 20,530 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the transaction, the president now directly owns 50,753 shares of the company’s stock, valued at approximately $6,628,341.80. The disclosure for this sale can be found here. Insiders have sold 43,720 shares of company stock valued at $5,348,451 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.
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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