Russell Investments Group Ltd. Buys 380,834 Shares of QUALCOMM, Inc. (QCOM)

Russell Investments Group Ltd. lifted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 51.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,116,170 shares of the wireless technology company’s stock after purchasing an additional 380,834 shares during the period. Russell Investments Group Ltd.’s holdings in QUALCOMM were worth $80,283,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of QCOM. Bank of New York Mellon Corp lifted its holdings in QUALCOMM by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock worth $1,170,308,000 after acquiring an additional 2,463,511 shares in the last quarter. Parnassus Investments CA lifted its holdings in QUALCOMM by 3.6% during the second quarter. Parnassus Investments CA now owns 10,150,000 shares of the wireless technology company’s stock worth $569,618,000 after acquiring an additional 350,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in QUALCOMM by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 9,687,604 shares of the wireless technology company’s stock worth $543,669,000 after acquiring an additional 323,005 shares in the last quarter. Waddell & Reed Financial Inc. lifted its holdings in QUALCOMM by 18.8% during the second quarter. Waddell & Reed Financial Inc. now owns 5,029,933 shares of the wireless technology company’s stock worth $282,280,000 after acquiring an additional 794,924 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in QUALCOMM by 3.5% during the second quarter. Swiss National Bank now owns 4,894,065 shares of the wireless technology company’s stock worth $274,655,000 after acquiring an additional 164,400 shares in the last quarter. Institutional investors and hedge funds own 77.35% of the company’s stock.

QCOM opened at $62.48 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.62 and a current ratio of 2.73. The stock has a market capitalization of $91.79 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.05 and a beta of 1.67. QUALCOMM, Inc. has a 1 year low of $48.56 and a 1 year high of $76.50.



QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.30. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.19 billion. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. QUALCOMM’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, analysts expect that QUALCOMM, Inc. will post 3.12 EPS for the current fiscal year.

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

QUALCOMM announced that its board has initiated a share repurchase plan on Thursday, July 26th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the wireless technology company to buy up to 34.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several research analysts have weighed in on QCOM shares. Barclays started coverage on QUALCOMM in a report on Thursday, September 13th. They set an “overweight” rating and a $95.00 target price on the stock. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Royal Bank of Canada lifted their target price on QUALCOMM to $77.00 and gave the stock an “outperform” rating in a report on Friday, September 7th. Nomura lifted their target price on QUALCOMM from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, September 4th. Finally, Deutsche Bank lifted their target price on QUALCOMM to $70.00 and gave the stock a “hold” rating in a report on Wednesday, September 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.12.

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

QUALCOMM 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.

Further Reading: How Important is Technical Analysis of Stocks

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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