Dividend Assets Capital LLC reduced its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 21.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,834 shares of the wireless technology company’s stock after selling 4,806 shares during the period. Dividend Assets Capital LLC’s holdings in Qualcomm were worth $955,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. CapWealth Advisors LLC boosted its position 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 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 during the period. 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 during the period. 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 during the period. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 1.05% during trading on Thursday, reaching $67.54. The company had a trading volume of 12,957,165 shares. The firm has a market capitalization of $99.53 billion, a P/E ratio of 19.78 and a beta of 1.25. Qualcomm Inc. has a 52-week low of $42.24 and a 52-week high of $70.40. The company has a 50 day moving average of $63.54 and a 200-day moving average of $56.73.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.19. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. Equities analysts expect that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.14%. Qualcomm’s dividend payout ratio is 62.17%.
A number of research firms have recently weighed in on QCOM. Royal Bank Of Canada upped their price target on shares of Qualcomm from $55.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, July 21st. Nomura reaffirmed a “neutral” rating and set a $55.00 price target on shares of Qualcomm in a research note on Thursday, July 21st. Stifel Nicolaus upped their price target on shares of Qualcomm from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, July 21st. Mizuho upped their price target on shares of Qualcomm from $50.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, July 21st. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of Qualcomm in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $63.98.
In other news, Director Raymond V. Dittamore sold 7,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $61.00, for a total value of $427,000.00. Following the transaction, the director now directly owns 12,765 shares of the company’s stock, valued at approximately $778,665. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond V. Dittamore sold 18,000 shares of the business’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $68.39, for a total value of $1,231,020.00. Following the completion of the transaction, the director now directly owns 5,813 shares in the company, valued at $397,551.07. The disclosure for this sale can be found here. 0.24% of the stock is owned by 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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