LS Investment Advisors LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,790 shares of the wireless technology company’s stock after buying an additional 5,639 shares during the period. LS Investment Advisors LLC’s holdings in QUALCOMM were worth $11,474,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Grimes & Company Inc. increased its position in QUALCOMM by 0.7% in the second quarter. Grimes & Company Inc. now owns 134,344 shares of the wireless technology company’s stock valued at $7,419,000 after buying an additional 888 shares in the last quarter. Middleton & Co Inc MA increased its position in QUALCOMM by 9.8% in the second quarter. Middleton & Co Inc MA now owns 68,266 shares of the wireless technology company’s stock valued at $3,770,000 after buying an additional 6,115 shares in the last quarter. United Bank Inc. increased its position in QUALCOMM by 26.3% in the second quarter. United Bank Inc. now owns 75,859 shares of the wireless technology company’s stock valued at $4,189,000 after buying an additional 15,815 shares in the last quarter. Blue Granite Capital LLC increased its position in QUALCOMM by 3.5% in the second quarter. Blue Granite Capital LLC now owns 8,760 shares of the wireless technology company’s stock valued at $486,000 after buying an additional 300 shares in the last quarter. Finally, Canal Capital Management LLC increased its position in QUALCOMM by 40.2% in the second quarter. Canal Capital Management LLC now owns 25,169 shares of the wireless technology company’s stock valued at $1,390,000 after buying an additional 7,213 shares in the last quarter. 76.59% of the stock is currently owned by hedge funds and other institutional investors.
QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.67% during mid-day trading on Friday, reaching $51.92. The company’s stock had a trading volume of 6,696,408 shares. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. The firm has a market capitalization of $76.64 billion, a PE ratio of 19.89 and a beta of 1.29. The stock’s 50-day moving average is $54.04 and its 200-day moving average is $55.54.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The company 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 revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, equities analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders 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 dividend yield of 4.39%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, July 25th. Finally, BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $63.96.
In related news, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 ninety days, insiders have sold 52,101 shares of company stock worth $2,955,612. Corporate 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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