HighPoint Advisor Group LLC boosted its position in Qualcomm Inc. (NASDAQ:QCOM) by 256.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,269 shares of the wireless technology company’s stock after buying an additional 9,542 shares during the period. HighPoint Advisor Group LLC’s holdings in Qualcomm were worth $823,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. CapWealth Advisors LLC boosted its stake 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 stake 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 stake in Qualcomm during the second quarter worth approximately $121,000. Delta Asset Management LLC TN boosted its stake 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 stake 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. Institutional investors and hedge funds own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) opened at 67.45 on Friday. The firm’s 50-day moving average price is $62.78 and its 200 day moving average price is $56.17. The stock has a market cap of $99.40 billion, a P/E ratio of 19.75 and a beta of 1.22. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $68.83.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS. On average, equities analysts expect that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.53 per share. The ex-dividend date was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.14%. Qualcomm’s payout ratio is 62.17%.
A number of research firms have recently commented on QCOM. Cowen and Company increased their target price on Qualcomm from $62.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank Of Canada increased their target price on Qualcomm from $55.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, July 21st. Nomura reissued a “neutral” rating and issued a $55.00 target price on shares of Qualcomm in a research note on Thursday, July 21st. Stifel Nicolaus increased their price objective on Qualcomm from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of Qualcomm in a research report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $62.92.
In other news, EVP Matthew S. Grob sold 33,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $59.85, for a total transaction of $1,975,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Derek K. Aberle sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $63.55, for a total transaction of $953,250.00. Following the sale, the president now directly owns 33,631 shares of the company’s stock, valued at $2,137,250.05. The disclosure for this sale can be found here. Insiders own 0.24% 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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