Greylin Investment Mangement Inc. trimmed its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 322,840 shares of the wireless technology company’s stock after selling 25,671 shares during the period. QUALCOMM comprises 5.9% of Greylin Investment Mangement Inc.’s holdings, making the stock its 2nd biggest holding. Greylin Investment Mangement Inc.’s holdings in QUALCOMM were worth $24,626,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in QUALCOMM by 2.5% in the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after buying an additional 233 shares during the period. Cincinnati Financial Corp boosted its position in QUALCOMM by 4.9% in the 2nd quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock valued at $72,837,000 after buying an additional 45,000 shares during the period. Jennison Associates LLC boosted its position in QUALCOMM by 996.4% in the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after buying an additional 13,893,238 shares during the period. Nordea Investment Management AB boosted its position in QUALCOMM by 65.1% in the 1st quarter. Nordea Investment Management AB now owns 436,913 shares of the wireless technology company’s stock valued at $24,915,000 after buying an additional 172,283 shares during the period. Finally, FLC Capital Advisors boosted its position in QUALCOMM by 36.1% in the 2nd quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock valued at $578,000 after buying an additional 2,000 shares during the period. Institutional investors own 78.45% of the company’s stock.
NASDAQ:QCOM traded up $2.69 during midday trading on Friday, reaching $77.66. 3,743,296 shares of the stock traded hands, compared to its average volume of 6,005,600. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The business has a 50-day moving average of $76.75 and a two-hundred day moving average of $73.56. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. The stock has a market capitalization of $88.56 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.73 and a beta of 1.59.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a yield of 3.19%. QUALCOMM’s payout ratio is 77.74%.
In other news, Director Mark D. Mclaughlin bought 2,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average price of $73.84 per share, with a total value of $199,737.20. Following the completion of the transaction, the director now directly owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 10,398 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $779,953.98. The disclosure for this sale can be found here. Insiders have sold 11,985 shares of company stock valued at $892,245 in the last three months. 0.11% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on QCOM. Canaccord Genuity set a $87.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research report on Monday, August 26th. Bank of America lowered their price objective on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Deutsche Bank lowered their price target on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research report on Thursday, August 1st. DZ Bank reaffirmed a “sell” rating on shares of QUALCOMM in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price target on shares of QUALCOMM in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $79.68.
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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