Principal Financial Group Inc. boosted its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,054,310 shares of the wireless technology company’s stock after buying an additional 39,925 shares during the period. Principal Financial Group Inc. owned about 0.14% of Qualcomm worth $110,050,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. CapWealth Advisors LLC boosted its position in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares in the last quarter. Americafirst Capital Management LLC bought a new position in Qualcomm during the second quarter worth $121,000. Delta Asset Management LLC TN boosted its position in Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock worth $129,000 after buying an additional 275 shares in the last quarter. Finally, Zions Bancorporation boosted its position in Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock worth $155,000 after buying an additional 2,235 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 0.96% during midday trading on Monday, hitting $62.15. 1,777,940 shares of the company’s stock traded hands. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $64.00. The stock has a market cap of $91.59 billion, a P/E ratio of 18.20 and a beta of 1.22. The company has a 50 day moving average of $62.52 and a 200 day moving average of $55.82.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.19. The business earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts forecast that Qualcomm Inc. will post $4.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s dividend payout ratio is presently 62.17%.
A number of equities analysts have weighed in on the stock. Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Qualcomm in a research report on Thursday. Mizuho upped their price objective on shares of Qualcomm from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 6th. Vetr upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $66.21 price objective for the company in a research report on Wednesday, August 31st. Morgan Stanley restated an “overweight” rating and set a $65.00 price objective on shares of Qualcomm in a research report on Tuesday, September 20th. Finally, Zacks Investment Research cut shares of Qualcomm from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Qualcomm presently has a consensus rating of “Buy” and an average target price of $62.08.
In other news, Director Raymond V. Dittamore sold 7,000 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the transaction, the director now directly owns 12,765 shares of the company’s stock, valued at $778,665. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew S. Grob sold 33,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.
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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