Trust Co. of Vermont cut its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,583 shares of the wireless technology company’s stock after selling 4,942 shares during the quarter. Trust Co. of Vermont’s holdings in QUALCOMM were worth $3,303,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in QCOM. Jacobi Capital Management LLC raised its stake in shares of QUALCOMM by 7.8% during the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after purchasing an additional 200 shares in the last quarter. CI Global Investments Inc. bought a new stake in shares of QUALCOMM during the second quarter valued at about $19,125,000. Jackson Wealth Management LLC raised its stake in shares of QUALCOMM by 12.7% during the second quarter. Jackson Wealth Management LLC now owns 41,880 shares of the wireless technology company’s stock valued at $2,237,000 after purchasing an additional 4,710 shares in the last quarter. Financial Counselors Inc. raised its stake in shares of QUALCOMM by 0.8% during the second quarter. Financial Counselors Inc. now owns 123,037 shares of the wireless technology company’s stock valued at $6,794,000 after purchasing an additional 1,011 shares in the last quarter. Finally, Noesis Capital Mangement Corp raised its stake in shares of QUALCOMM by 2.2% during the second quarter. Noesis Capital Mangement Corp now owns 105,586 shares of the wireless technology company’s stock valued at $5,830,000 after purchasing an additional 2,321 shares in the last quarter. Hedge funds and other institutional investors own 78.11% of the company’s stock.
QCOM has been the topic of a number of recent analyst reports. Canaccord Genuity lifted their price objective on shares of QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective on the stock in a research note on Monday, November 13th. Royal Bank of Canada lifted their target price on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. Finally, Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and lifted their target price for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $68.25.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business posted $1.19 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. equities research analysts forecast that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.62%. QUALCOMM’s dividend payout ratio (DPR) is presently -80.28%.
In other news, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares in the company, valued at approximately $2,810,050. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at $709,484.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,812 shares of company stock worth $2,996,776. Company insiders own 0.24% of the company’s stock.
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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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