Boston Advisors LLC increased its stake in Qualcomm Inc. (NASDAQ:QCOM) by 44.5% during the second quarter, Holdings Channel reports. The fund owned 422,770 shares of the wireless technology company’s stock after buying an additional 130,184 shares during the period. Boston Advisors LLC’s holdings in Qualcomm were worth $22,648,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in QCOM. CapWealth Advisors LLC increased its stake in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Qualcomm during the second quarter valued at about $121,000. Delta Asset Management LLC TN increased its stake in shares of 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 valued at $129,000 after buying an additional 275 shares during the last quarter. Finally, Zions Bancorporation increased its stake in shares of Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock valued at $155,000 after buying an additional 2,235 shares during the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 1.56% during mid-day trading on Friday, hitting $68.50. The company had a trading volume of 34,879,502 shares. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40. The company has a market capitalization of $100.94 billion, a PE ratio of 20.06 and a beta of 1.22. The company’s 50-day moving average is $62.97 and its 200 day moving average is $56.28.
Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The firm 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 business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. On average, equities research analysts forecast that Qualcomm Inc. will post $4.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a $0.53 dividend. The ex-dividend date was Monday, August 29th. This represents a $2.12 annualized dividend and a dividend yield of 3.09%. Qualcomm’s payout ratio is presently 62.17%.
Several brokerages recently commented on QCOM. BMO Capital Markets cut Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 target price for the company. in a research report on Thursday, July 14th. Mizuho raised their target price on Qualcomm from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Qualcomm in a research report on Tuesday, September 20th. Pacific Crest raised their target price on Qualcomm from $59.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, July 21st. Finally, Evercore ISI cut Qualcomm from a “buy” rating to a “hold” rating and reduced their target price for the stock from $60.00 to $55.00 in a research report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Qualcomm currently has a consensus rating of “Buy” and a consensus target price of $63.11.
In other Qualcomm news, EVP Matthew S. Grob sold 33,000 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $59.85, for a total value of $1,975,050.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Derek K. Aberle sold 22,653 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total value of $1,403,353.35. Following the completion of the sale, the president now owns 69,234 shares in the company, valued at $4,289,046.30. The disclosure for this sale can be found here. 0.24% of the stock is 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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