Autus Asset Management LLC Takes Position in QUALCOMM, Inc. (QCOM)

Autus Asset Management LLC purchased a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,864 shares of the wireless technology company’s stock, valued at approximately $206,000.

A number of other institutional investors have also added to or reduced their stakes in QCOM. RNC Capital Management LLC raised its stake in shares of QUALCOMM by 0.5% in the third quarter. RNC Capital Management LLC now owns 690,624 shares of the wireless technology company’s stock valued at $49,746,000 after acquiring an additional 3,515 shares during the period. Alpha Cubed Investments LLC raised its stake in shares of QUALCOMM by 3.4% in the third quarter. Alpha Cubed Investments LLC now owns 61,907 shares of the wireless technology company’s stock valued at $4,046,000 after acquiring an additional 2,025 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of QUALCOMM by 102.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 348,867 shares of the wireless technology company’s stock valued at $25,129,000 after acquiring an additional 176,850 shares during the period. Middleton & Co Inc MA raised its stake in shares of QUALCOMM by 3.7% in the third quarter. Middleton & Co Inc MA now owns 110,345 shares of the wireless technology company’s stock valued at $7,948,000 after acquiring an additional 3,957 shares during the period. Finally, Palo Capital Inc. raised its stake in shares of QUALCOMM by 377.1% in the third quarter. Palo Capital Inc. now owns 26,335 shares of the wireless technology company’s stock valued at $1,897,000 after acquiring an additional 20,815 shares during the period. 77.35% of the stock is currently owned by institutional investors.

QCOM stock opened at $62.48 on Friday. The stock has a market capitalization of $92.85 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.08 and a beta of 1.67. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $76.50. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67.



QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.30. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.19 billion. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. On average, equities research analysts expect that QUALCOMM, Inc. will post 3.12 EPS for the current fiscal year.

QUALCOMM declared that its Board of Directors has initiated a stock buyback program on Thursday, July 26th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the wireless technology company to repurchase up to 34.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Wednesday, December 5th. QUALCOMM’s dividend payout ratio is presently 65.61%.

In other QUALCOMM news, EVP Alexander H. Rogers sold 1,306 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $67.37, for a total transaction of $87,985.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Cristiano R. Amon sold 88,625 shares of the stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the transaction, the president now owns 58,045 shares in the company, valued at $3,994,076.45. The disclosure for this sale can be found here. Insiders sold a total of 90,785 shares of company stock worth $6,247,913 in the last ninety days. 0.17% of the stock is currently owned by insiders.

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and increased their target price for the company from $56.00 to $70.00 in a research note on Monday, August 20th. Cowen increased their target price on shares of QUALCOMM from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Thursday, July 26th. BidaskClub raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. KeyCorp increased their target price on shares of QUALCOMM from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Finally, BMO Capital Markets increased their target price on shares of QUALCOMM to $64.00 and gave the company a “market perform” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.12.

QUALCOMM Company Profile

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.

Read More: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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