AE Wealth Management LLC Has $360,000 Holdings in QUALCOMM, Inc. (QCOM)

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AE Wealth Management LLC reduced its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 68.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,420 shares of the wireless technology company’s stock after selling 14,084 shares during the quarter. AE Wealth Management LLC’s holdings in QUALCOMM were worth $360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in shares of QUALCOMM by 2.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 70,852 shares of the wireless technology company’s stock valued at $3,926,000 after purchasing an additional 1,738 shares in the last quarter. Afam Capital Inc. boosted its stake in shares of QUALCOMM by 2.1% in the 1st quarter. Afam Capital Inc. now owns 92,699 shares of the wireless technology company’s stock valued at $5,136,000 after purchasing an additional 1,949 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of QUALCOMM by 24.1% in the 1st quarter. Penserra Capital Management LLC now owns 4,864 shares of the wireless technology company’s stock valued at $269,000 after purchasing an additional 944 shares in the last quarter. Intact Investment Management Inc. boosted its stake in shares of QUALCOMM by 59.5% in the 1st quarter. Intact Investment Management Inc. now owns 186,600 shares of the wireless technology company’s stock valued at $10,338,000 after purchasing an additional 69,600 shares in the last quarter. Finally, Meridian Management Co. acquired a new stake in shares of QUALCOMM in the 1st quarter valued at $263,000. 77.42% of the stock is currently owned by institutional investors.

Shares of NASDAQ QCOM opened at $75.09 on Friday. The stock has a market cap of $105.41 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.12 and a beta of 1.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.62 and a current ratio of 2.73. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $76.04.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.30. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.19 billion. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. sell-side analysts forecast that QUALCOMM, Inc. will post 3.11 earnings per share for the current fiscal year.

QUALCOMM declared that its Board of Directors has initiated a stock buyback program on Thursday, July 26th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to reacquire up to 34.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 5th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.48 annualized dividend and a yield of 3.30%. QUALCOMM’s dividend payout ratio (DPR) is 65.61%.

In related news, EVP Alexander H. Rogers sold 828 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $63.40, for a total transaction of $52,495.20. Following the transaction, the executive vice president now owns 7,170 shares in the company, valued at approximately $454,578. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 789 shares of the company’s stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $56.55, for a total transaction of $44,617.95. Following the transaction, the executive vice president now owns 7,998 shares in the company, valued at approximately $452,286.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,923 shares of company stock worth $185,098. 0.17% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on QCOM shares. Barclays started coverage on shares of QUALCOMM in a research note on Thursday. They issued an “overweight” rating and a $95.00 target price on the stock. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Royal Bank of Canada boosted their target price on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a research note on Friday, September 7th. Nomura boosted their target price on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Finally, Canaccord Genuity boosted their target price on shares of QUALCOMM from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $70.52.

QUALCOMM Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

Read More: What does earnings per share mean?

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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