Advisors Capital Management LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 483,356 shares of the wireless technology company’s stock after buying an additional 52,612 shares during the period. QUALCOMM makes up approximately 2.2% of Advisors Capital Management LLC’s portfolio, making the stock its 3rd largest position. Advisors Capital Management LLC’s holdings in QUALCOMM were worth $26,691,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in QCOM. Jacobi Capital Management LLC raised its position in shares of QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after buying an additional 250 shares in the last quarter. American National Bank raised its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares in the last quarter. Welch Group LLC raised its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares in the last quarter. Advantage Investment Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $200,000. Finally, Glassman Wealth Services raised its position in shares of QUALCOMM by 9.1% in the fourth quarter. Glassman Wealth Services now owns 3,094 shares of the wireless technology company’s stock worth $202,000 after buying an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 77.25% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 56.78 on Thursday. The firm’s 50-day moving average price is $56.65 and its 200 day moving average price is $56.84. The firm has a market cap of $83.89 billion, a P/E ratio of 18.92 and a beta of 1.30. QUALCOMM Incorporated has a one year low of $51.05 and a one year high of $71.62. QUALCOMM also saw unusually large options trading on Tuesday. Investors purchased 13,443 call options on the company. This represents an increase of approximately 124% compared to the average volume of 6,007 call options.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a return on equity of 21.32% and a net margin of 19.25%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that QUALCOMM Incorporated will post $4.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is currently 76.00%.
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A number of equities analysts recently issued reports on QCOM shares. Stifel Nicolaus decreased their target price on shares of QUALCOMM from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, March 30th. Mizuho reiterated a “buy” rating and issued a $75.00 target price on shares of QUALCOMM in a research report on Tuesday, April 11th. Canaccord Genuity cut their price target on shares of QUALCOMM from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, April 20th. Standpoint Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Friday, April 28th. Finally, Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price target for the company. in a report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and an average price target of $64.69.
In related news, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the transaction, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 5,509 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,473 shares of company stock worth $4,840,167. Company insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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