Jackson Park Capital LLC reduced its position in Qualcomm Inc. (NASDAQ:QCOM) by 14.7% during the second quarter, Holdings Channel reports. The fund owned 58,000 shares of the wireless technology company’s stock after selling 10,000 shares during the period. Qualcomm accounts for approximately 4.3% of Jackson Park Capital LLC’s investment portfolio, making the stock its 6th largest position. Jackson Park Capital LLC’s holdings in Qualcomm were worth $3,107,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of QCOM. Orbis Allan Gray Ltd purchased a new position in Qualcomm during the first quarter worth $865,645,000. Bank of Montreal Can purchased a new position in Qualcomm during the second quarter worth $87,048,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Qualcomm by 410.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,894,139 shares of the wireless technology company’s stock worth $96,866,000 after buying an additional 1,523,303 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Qualcomm by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 14,010,095 shares of the wireless technology company’s stock worth $716,476,000 after buying an additional 1,003,767 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its position in Qualcomm by 119.9% in the first quarter. AMF Pensionsforsakring AB now owns 1,610,706 shares of the wireless technology company’s stock worth $82,372,000 after buying an additional 878,363 shares during the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) remained flat at $65.70 on Friday. The company’s stock had a trading volume of 6,743,106 shares. The firm’s 50 day moving average is $64.16 and its 200 day moving average is $57.34. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The stock has a market capitalization of $96.82 billion, a PE ratio of 19.24 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, topping 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 analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Qualcomm Inc. will post $4.30 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
A number of equities analysts have weighed in on QCOM shares. Vetr upgraded shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 price target for the company in a research report on Monday, September 12th. Canaccord Genuity restated a “buy” rating and set a $70.00 target price on shares of Qualcomm in a research report on Monday, August 15th. Zacks Investment Research upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, July 26th. Mizuho upgraded shares of Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, September 29th. Finally, TheStreet lowered shares of Qualcomm from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $64.12.
In other Qualcomm news, EVP Matthew S. Grob sold 33,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction on Friday, July 22nd. The stock was 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 disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
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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