Van Strum & Towne Inc. continued to hold its position in QUALCOMM Incorporated (NASDAQ:QCOM) during the first quarter, according to its most recent filing with the SEC. The firm owned 11,952 shares of the wireless technology company’s stock at the end of the first quarter. Van Strum & Towne Inc.’s holdings in QUALCOMM were worth $685,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Marshall Wace LLP raised its position in shares of QUALCOMM by 338.9% in the fourth quarter. Marshall Wace LLP now owns 394,221 shares of the wireless technology company’s stock worth $25,704,000 after buying an additional 304,403 shares during the last quarter. Gabelli Funds LLC raised its position in shares of QUALCOMM by 293.3% in the fourth quarter. Gabelli Funds LLC now owns 29,500 shares of the wireless technology company’s stock worth $1,923,000 after buying an additional 22,000 shares during the last quarter. Elkfork Partners LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $8,007,000. Gamco Investors INC. ET AL purchased a new position in shares of QUALCOMM during the fourth quarter worth $231,000. Finally, Aviva PLC raised its position in shares of QUALCOMM by 5.6% in the fourth quarter. Aviva PLC now owns 963,445 shares of the wireless technology company’s stock worth $62,846,000 after buying an additional 51,300 shares during the last quarter. Hedge funds and other institutional investors own 76.61% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.78% during mid-day trading on Tuesday, hitting $52.29. 10,461,084 shares of the stock traded hands. The firm has a 50 day moving average of $55.08 and a 200 day moving average of $55.95. The company has a market cap of $77.18 billion, a P/E ratio of 20.03 and a beta of 1.29. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. QUALCOMM also was the recipient of unusually large options trading activity on Monday. Traders acquired 21,472 put options on the company. This represents an increase of 152% compared to the average volume of 8,513 put options.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. Equities analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal 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 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 4.36%. QUALCOMM’s payout ratio is presently 87.36%.
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A number of brokerages recently weighed in on QCOM. Vetr lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price objective for the company. in a report on Monday, May 22nd. Stifel Nicolaus boosted their price objective on shares of QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 26th. BMO Capital Markets restated 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 boosted their price objective for the stock from $50.00 to $68.00 in a report on Monday, May 22nd. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $63.96.
In other QUALCOMM news, EVP Michelle M. Sterling sold 5,509 shares of QUALCOMM stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $59.11, for a total transaction of $325,636.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann M. Livermore bought 9,000 shares of QUALCOMM stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $54.59 per share, for a total transaction of $491,310.00. The disclosure for this purchase can be found here. Insiders have sold 62,802 shares of company stock worth $3,544,381 over the last ninety days. 0.24% of the stock is owned by insiders.
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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