Quadrant Capital Group LLC cut its stake in Qualcomm Inc. (NASDAQ:QCOM) by 7.4% during the second quarter, Holdings Channel reports. The firm owned 3,117 shares of the wireless technology company’s stock after selling 249 shares during the period. Quadrant Capital Group LLC’s holdings in Qualcomm were worth $156,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Alexandria Capital LLC increased its position in shares of Qualcomm by 20.8% in the first quarter. Alexandria Capital LLC now owns 28,191 shares of the wireless technology company’s stock valued at $1,442,000 after buying an additional 4,859 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its position in shares of Qualcomm by 16.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 524,496 shares of the wireless technology company’s stock valued at $26,823,000 after buying an additional 72,330 shares in the last quarter. Virginia Retirement System acquired a new position in shares of Qualcomm during the first quarter valued at approximately $8,314,000. Badgley Phelps & Bell Inc. increased its position in shares of Qualcomm by 5.7% in the first quarter. Badgley Phelps & Bell Inc. now owns 142,177 shares of the wireless technology company’s stock valued at $7,271,000 after buying an additional 7,664 shares in the last quarter. Finally, Compton Capital Management Inc. RI increased its position in shares of Qualcomm by 3.3% in the first quarter. Compton Capital Management Inc. RI now owns 21,932 shares of the wireless technology company’s stock valued at $1,122,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) remained flat at $65.70 during mid-day trading on Friday. The company had a trading volume of 6,743,106 shares. The stock’s 50 day moving average price is $64.08 and its 200-day moving average price is $57.23. The firm has a market cap of $96.82 billion, a PE ratio of 19.24 and a beta of 1.25. Qualcomm Inc. has a 52-week low of $42.24 and a 52-week high of $70.40.
Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.57 billion. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Qualcomm Inc. will post $4.30 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s payout ratio is 62.17%.
QCOM has been the topic of several recent analyst reports. Vetr raised Qualcomm from a “buy” rating to a “strong-buy” rating and set a $59.08 price target on the stock in a research report on Monday, June 27th. Sanford C. Bernstein downgraded Qualcomm from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $53.55 to $55.00 in a research report on Thursday, June 30th. Evercore ISI downgraded Qualcomm from a “buy” rating to a “hold” rating and dropped their price target for the stock from $60.00 to $55.00 in a research report on Friday, July 1st. KeyCorp restated a “buy” rating and set a $59.00 price objective on shares of Qualcomm in a research report on Wednesday, July 6th. Finally, TheStreet cut Qualcomm from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.12.
In other Qualcomm news, Director Raymond V. Dittamore sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $68.39, for a total transaction of $1,231,020.00. Following the completion of the sale, the director now directly owns 5,813 shares of the company’s stock, valued at approximately $397,551.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 33,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 0.24% of the stock is owned by corporate 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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