Northside Capital Management LLC maintained its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,650 shares of the wireless technology company’s stock at the end of the second quarter. Northside Capital Management LLC’s holdings in Qualcomm were worth $356,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. First Republic Investment Management Inc. increased its stake in shares of Qualcomm by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 844,615 shares of the wireless technology company’s stock worth $43,194,000 after buying an additional 27,934 shares during the last quarter. Conning Inc. increased its stake in shares of Qualcomm by 4.2% in the second quarter. Conning Inc. now owns 475,737 shares of the wireless technology company’s stock worth $25,485,000 after buying an additional 19,357 shares during the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Qualcomm during the first quarter worth approximately $865,645,000. Legal & General Group Plc increased its stake in shares of Qualcomm by 2.4% in the first quarter. Legal & General Group Plc now owns 7,071,165 shares of the wireless technology company’s stock worth $361,632,000 after buying an additional 166,659 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Qualcomm by 13.2% in the first quarter. Envestnet Asset Management Inc. now owns 816,491 shares of the wireless technology company’s stock worth $41,755,000 after buying an additional 95,268 shares during the last quarter. 78.05% of the stock is owned by institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% on Friday, hitting $68.19. The company’s stock had a trading volume of 8,398,099 shares. Qualcomm Inc. has a 12 month low of $42.24 and a 12 month high of $70.40. The firm has a 50 day moving average of $63.68 and a 200 day moving average of $56.84. The firm has a market cap of $100.49 billion, a price-to-earnings ratio of 19.97 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. Equities research analysts forecast that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.11%. Qualcomm’s payout ratio is 62.17%.
A number of analysts recently commented on QCOM shares. Vetr raised Qualcomm from a “buy” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research report on Monday, September 26th. Zacks Investment Research lowered Qualcomm from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. BMO Capital Markets reissued an “underperform” rating and issued a $53.00 target price on shares of Qualcomm in a research report on Sunday, October 2nd. Standpoint Research raised Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Thursday, August 25th. Finally, Cowen and Company raised their target price on Qualcomm from $62.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.98.
In related news, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $61.00, for a total value of $427,000.00. Following the completion of the transaction, the director now owns 12,765 shares of the company’s stock, valued at approximately $778,665. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 74,000 shares of the stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $66.63, for a total transaction of $4,930,620.00. 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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