Brave Asset Management Inc. Has $392,000 Position in QUALCOMM Incorporated (QCOM)
Brave Asset Management Inc. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the wireless technology company’s stock after selling 450 shares during the period. Brave Asset Management Inc.’s holdings in QUALCOMM were worth $392,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. WealthTrust Axiom LLC increased its position in shares of QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock worth $332,000 after purchasing an additional 15 shares during the period. Ronald Blue & Co. LLC raised its position in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares in the last quarter. Hollencrest Securities LLC raised its position in shares of QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of QUALCOMM by 0.4% in the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after buying an additional 42 shares in the last quarter. Finally, FCA Corp TX lifted its holdings in shares of QUALCOMM by 0.9% during the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock worth $276,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 76.96% of the company’s stock.
Several research firms recently issued reports on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 price target on the stock in a research report on Wednesday, June 7th. Susquehanna Bancshares Inc restated a “positive” rating and set a $67.00 target price (up from $61.00) on shares of QUALCOMM in a research note on Sunday, June 18th. Deutsche Bank AG initiated coverage on QUALCOMM in a research note on Monday, June 19th. They set a “hold” rating and a $62.00 target price for the company. Zacks Investment Research downgraded QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Finally, ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. QUALCOMM has a consensus rating of “Hold” and an average price target of $63.60.
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QUALCOMM Incorporated (NASDAQ QCOM) opened at 51.84 on Monday. The firm’s 50-day moving average price is $52.06 and its 200-day moving average price is $54.99. The firm has a market cap of $76.52 billion, a P/E ratio of 19.85 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period last year, the company posted $1.16 EPS. QUALCOMM’s revenue was down 11.1% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
In related news, President Derek K. Aberle sold 23,104 shares of the company’s 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 sale, the president now owns 5,855 shares in the company, valued at approximately $324,249.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,914 shares of company stock worth $1,581,095. Corporate insiders own 0.17% 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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