UMB Bank N A MO reduced its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,800 shares of the wireless technology company’s stock after selling 7,821 shares during the period. UMB Bank N A MO’s holdings in Qualcomm were worth $3,900,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. CapWealth Advisors LLC increased 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 during the last quarter. Joel Isaacson & Co. LLC boosted 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 worth $119,000 after buying an additional 103 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of Qualcomm during the second quarter worth $121,000. Delta Asset Management LLC TN boosted 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 worth $129,000 after buying an additional 275 shares during the period. Finally, Zions Bancorporation boosted 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 worth $155,000 after buying an additional 2,235 shares during the period. 78.05% of the stock is currently owned by institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) traded down 2.03% during trading on Monday, hitting $67.11. The stock had a trading volume of 10,153,594 shares. The firm has a market cap of $98.90 billion, a P/E ratio of 19.65 and a beta of 1.25. The stock’s 50 day moving average price is $63.13 and its 200 day moving average price is $56.47. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $70.40.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The business earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business earned $0.99 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts anticipate 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. Stockholders of record on Wednesday, August 31st were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s payout ratio is currently 62.17%.
A number of brokerages recently weighed in on QCOM. RBC Capital Markets restated a “sector perform” rating and set a $70.00 price objective (up from $59.00) on shares of Qualcomm in a research note on Monday. JPMorgan Chase & Co. restated an “overweight” rating and set a $70.00 price objective (up from $63.00) on shares of Qualcomm in a research note on Monday. Royal Bank Of Canada upped their price objective on Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday. Vetr cut Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research note on Monday. Finally, BMO Capital Markets restated an “underperform” rating and set a $53.00 price objective on shares of Qualcomm in a research note on Sunday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Qualcomm has an average rating of “Buy” and an average price target of $63.98.
In other Qualcomm news, EVP Matthew S. Grob sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $62.37, for a total transaction of $124,740.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew S. Grob sold 74,000 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $66.63, for a total value of $4,930,620.00. The disclosure for this sale can be found here. 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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