Herald Investment Management Ltd held its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,200 shares of the wireless technology company’s stock at the end of the first quarter. Herald Investment Management Ltd’s holdings in QUALCOMM were worth $584,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. American National Bank increased its stake 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 during the last quarter. Welch Group LLC boosted its stake 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 during the period. Commonwealth Financial Services LLC boosted its stake in shares of QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock worth $205,000 after buying an additional 3,022 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of QUALCOMM during the first quarter worth approximately $218,000. Finally, Good Life Advisors LLC purchased a new stake in shares of QUALCOMM during the first quarter worth approximately $225,000. Institutional investors and hedge funds own 76.59% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.67% during trading on Friday, reaching $51.92. The company had a trading volume of 6,696,408 shares. The firm has a market capitalization of $76.64 billion, a P/E ratio of 19.89 and a beta of 1.29. The firm’s 50-day moving average price is $54.04 and its 200 day moving average price is $55.54. QUALCOMM Incorporated has a one year low of $51.05 and a one year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. Equities analysts forecast that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a yield of 4.39%. QUALCOMM’s dividend payout ratio is presently 87.36%.
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A number of brokerages have commented on QCOM. UBS AG reissued a “neutral” rating and issued a $58.00 price objective on shares of QUALCOMM in a research note on Tuesday, May 2nd. Northland Securities cut QUALCOMM from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $75.00 to $62.50 in a research note on Wednesday, June 28th. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BMO Capital Markets reissued a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Monday, July 10th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $56.00 price objective on shares of QUALCOMM in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and an average target price of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 22,251 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the sale, the president now directly owns 28,959 shares of the company’s stock, valued at $1,667,748.81. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were 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. Over the last three months, insiders have sold 52,101 shares of company stock worth $2,955,612. Insiders own 0.17% of the company’s stock.
QUALCOMM Company Profile
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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