Grimes & Company Inc. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,344 shares of the wireless technology company’s stock after buying an additional 888 shares during the period. Grimes & Company Inc.’s holdings in QUALCOMM were worth $7,419,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP increased its position in QUALCOMM by 572.8% in the fourth quarter. GSA Capital Partners LLP now owns 114,706 shares of the wireless technology company’s stock valued at $7,479,000 after buying an additional 97,656 shares during the period. Doyle Wealth Management acquired a new position in QUALCOMM during the first quarter valued at approximately $17,957,000. Berkshire Asset Management LLC PA increased its position in QUALCOMM by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 168,062 shares of the wireless technology company’s stock valued at $9,637,000 after buying an additional 4,356 shares during the period. P.R. Herzig & Co. Inc. increased its position in QUALCOMM by 6.2% in the first quarter. P.R. Herzig & Co. Inc. now owns 35,925 shares of the wireless technology company’s stock valued at $2,060,000 after buying an additional 2,100 shares during the period. Finally, Triangle Securities Wealth Management increased its position in QUALCOMM by 9.2% in the first quarter. Triangle Securities Wealth Management now owns 9,887 shares of the wireless technology company’s stock valued at $567,000 after buying an additional 830 shares during the period. 76.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of QUALCOMM Incorporated (QCOM) traded down 0.67% during mid-day trading on Friday, hitting $51.92. The stock had a trading volume of 6,696,408 shares. The firm has a 50 day moving average of $54.04 and a 200-day moving average of $55.54. The stock has a market cap of $76.64 billion, a P/E ratio of 19.89 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $51.05 and a one year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its 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. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities research analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be issued a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.39%. QUALCOMM’s dividend payout ratio is presently 87.36%.
QCOM has been the topic of several research reports. Canaccord Genuity decreased their price target on shares of QUALCOMM from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. BMO Capital Markets restated a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a report on Saturday, April 22nd. Pacific Crest restated an “overweight” rating and issued a $77.00 target price (down previously from $81.00) on shares of QUALCOMM in a report on Saturday, April 22nd. Mizuho restated a “buy” rating and issued a $68.00 target price (down previously from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $60.00 target price on shares of QUALCOMM in a report on Saturday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $63.96.
In related news, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction 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 completion of the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the transaction, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at $174,646.72. The disclosure for this sale can be found here. Insiders sold a total of 52,101 shares of company stock worth $2,955,612 in the last quarter. 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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