Pointe Capital Management LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 7,200 shares of the wireless technology company’s stock, valued at approximately $498,000.
Several other large investors have also recently made changes to their positions in QCOM. First Midwest Bank Trust Division raised its position in shares of QUALCOMM by 3.0% in the 1st quarter. First Midwest Bank Trust Division now owns 6,562 shares of the wireless technology company’s stock worth $376,000 after acquiring an additional 191 shares in the last quarter. Leavell Investment Management Inc. increased its position in QUALCOMM by 33.2% during the 1st quarter. Leavell Investment Management Inc. now owns 41,220 shares of the wireless technology company’s stock valued at $2,364,000 after buying an additional 10,285 shares in the last quarter. Breton Hill Capital Ltd. boosted its stake in QUALCOMM by 263.2% during the 1st quarter. Breton Hill Capital Ltd. now owns 6,200 shares of the wireless technology company’s stock valued at $356,000 after purchasing an additional 9,999 shares during the last quarter. Meyer Handelman Co. boosted its stake in QUALCOMM by 4.0% during the 1st quarter. Meyer Handelman Co. now owns 294,200 shares of the wireless technology company’s stock valued at $16,869,000 after purchasing an additional 11,300 shares during the last quarter. Finally, Hamlin Capital Management LLC boosted its stake in QUALCOMM by 47.7% during the 1st quarter. Hamlin Capital Management LLC now owns 1,432,208 shares of the wireless technology company’s stock valued at $82,123,000 after purchasing an additional 462,369 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.
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QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.41 on Wednesday. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62. The firm has a market capitalization of $77.36 billion, a P/E ratio of 20.07 and a beta of 1.28. The company has a 50 day moving average price of $51.84 and a 200 day moving average price of $54.30.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. QUALCOMM’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 5,810 shares of company stock valued at $301,596 in the last ninety days. 0.24% of the stock is currently owned by company insiders.
QCOM has been the topic of several recent analyst reports. William Blair reiterated a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, September 5th. Northland Securities upgraded QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 target price on the stock in a research note on Friday, September 15th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. Deutsche Bank AG dropped their price target on QUALCOMM from $62.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, July 20th. Finally, Morgan Stanley raised their price target on QUALCOMM from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $63.80.
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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