Today, Qualcomm’s (QCOM) “Hold” Rating Reiterated at Sanford C. Bernstein

Today, Qualcomm’s (QCOM) “Hold” Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein restated their hold rating on shares of Qualcomm Inc. (NASDAQ:QCOM) in a research note published on Thursday.

A number of other equities analysts have also recently commented on the company. Vetr raised Qualcomm from a buy rating to a strong-buy rating and set a $69.01 price target for the company in a report on Monday, September 12th. Canaccord Genuity restated a buy rating and set a $70.00 price objective on shares of Qualcomm in a research report on Monday, August 15th. Zacks Investment Research upgraded Qualcomm from a hold rating to a buy rating and set a $68.00 price target on the stock in a research report on Tuesday, July 26th. Mizuho upgraded Qualcomm from a neutral rating to a buy rating and set a $75.00 price target on the stock in a research report on Thursday, September 29th. Finally, TheStreet lowered Qualcomm from a buy rating to a hold rating in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $64.12.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 annualized dividend and a dividend yield of 3.25%. Qualcomm’s payout ratio is 62.17%.

In other news, Director Raymond V. Dittamore sold 18,000 shares of Qualcomm stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $68.39, for a total transaction of $1,231,020.00. Following the completion of the transaction, the director now directly owns 5,813 shares in the company, valued at $397,551.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Derek K. Aberle sold 22,653 shares of Qualcomm stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total transaction of $1,403,353.35. Following the transaction, the president now owns 69,234 shares of the company’s stock, valued at $4,289,046.30. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. ING Groep NV raised its position in Qualcomm by 11.0% in the second quarter. ING Groep NV now owns 242,400 shares of the wireless technology company’s stock valued at $12,981,000 after buying an additional 24,078 shares during the last quarter. First Republic Investment Management Inc. raised its position in shares of Qualcomm by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 844,615 shares of the wireless technology company’s stock worth $43,194,000 after buying an additional 27,934 shares during the last quarter. Conning Inc. raised its position in shares of Qualcomm by 4.2% in the second quarter. Conning Inc. now owns 475,737 shares of the wireless technology company’s stock worth $25,485,000 after buying an additional 19,357 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in shares of Qualcomm during the first quarter worth $865,645,000. Finally, Legal & General Group Plc raised its position in shares of Qualcomm by 2.4% in the first quarter. Legal & General Group Plc now owns 7,071,165 shares of the wireless technology company’s stock worth $361,632,000 after buying an additional 166,659 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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