Quantum Capital Management trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,110 shares of the wireless technology company’s stock after selling 301 shares during the quarter. Quantum Capital Management’s holdings in QUALCOMM were worth $809,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. WealthTrust Axiom LLC grew its holdings in QUALCOMM by 0.3% during the 1st quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after purchasing an additional 15 shares during the last quarter. Excalibur Management Corp grew its holdings in QUALCOMM by 0.7% during the 1st quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after purchasing an additional 31 shares during the last quarter. FCA Corp TX grew its holdings in QUALCOMM by 0.9% during the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after purchasing an additional 43 shares during the last quarter. Gierl Augustine Investment Management Inc grew its holdings in QUALCOMM by 0.9% during the 1st quarter. Gierl Augustine Investment Management Inc now owns 5,350 shares of the wireless technology company’s stock valued at $307,000 after purchasing an additional 50 shares during the last quarter. Finally, Welch Group LLC grew its holdings in QUALCOMM by 2.3% during the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the company’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 transaction, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,995 shares of company stock valued at $1,587,390. 0.17% of the stock is owned by insiders.
QCOM has been the topic of several analyst reports. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a report on Sunday, May 21st. J P Morgan Chase & Co upgraded shares of QUALCOMM from a “neutral” rating to an “overweight” rating and upped their price target for the company from $50.00 to $68.00 in a report on Monday, May 22nd. Vetr downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price target on the stock. in a report on Monday, May 22nd. Stifel Nicolaus upped their price target on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 26th. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and set a $67.00 price target (up from $61.00) on shares of QUALCOMM in a report on Sunday, June 18th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $63.96.
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Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded up 1.38% on Friday, hitting $52.19. 13,177,887 shares of the company traded hands. The company has a market capitalization of $77.04 billion, a PE ratio of 19.99 and a beta of 1.29. QUALCOMM Incorporated has a 12 month low of $48.92 and a 12 month high of $71.62. The stock’s 50-day moving average price is $52.11 and its 200-day moving average price is $55.07.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating 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 the consensus estimate of $5.25 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. QUALCOMM’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, equities analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be given a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.37%. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
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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