Brown Advisory Securities LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 72,962 shares of the wireless technology company’s stock after buying an additional 10,393 shares during the period. QUALCOMM accounts for about 1.0% of Brown Advisory Securities LLC’s holdings, making the stock its 22nd largest position. Brown Advisory Securities LLC’s holdings in QUALCOMM were worth $4,179,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. American National Bank boosted its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares in the last quarter. Welch Group LLC boosted its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares in the last quarter. Commonwealth Financial Services LLC boosted its position in shares of QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after buying an additional 3,022 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of QUALCOMM during the first quarter valued at about $218,000. Finally, Good Life Advisors LLC acquired a new position in shares of QUALCOMM during the first quarter valued at about $225,000. 76.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.9473% during mid-day trading on Thursday, hitting $52.2701. The stock had a trading volume of 1,729,475 shares. The firm has a market capitalization of $77.15 billion, a PE ratio of 20.0192 and a beta of 1.29. The stock’s 50-day moving average is $54.70 and its 200-day moving average is $55.64. QUALCOMM Incorporated has a 1-year low of $51.05 and a 1-year high of $71.62. QUALCOMM also was the recipient of some unusual options trading on Monday. Investors bought 21,472 put options on the company. This is an increase of 152% compared to the average volume of 8,513 put options.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. Equities analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is currently 87.36%.
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Several brokerages have recently issued reports on QCOM. Standpoint Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Friday, April 28th. Mizuho reissued a “buy” rating and issued a $68.00 target price (down from $75.00) on shares of QUALCOMM in a research report on Saturday, April 22nd. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 16th. Sanford C. Bernstein reissued a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a research report on Friday, June 30th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $63.96.
In related news, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Derek K. Aberle sold 22,251 shares of QUALCOMM stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the transaction, the president now directly owns 28,959 shares in the company, valued at $1,667,748.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,101 shares of company stock worth $2,955,612. 0.17% 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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