Estabrook Capital Management Reduces Position in QUALCOMM Incorporated (QCOM)
Estabrook Capital Management reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,230 shares of the wireless technology company’s stock after selling 250 shares during the quarter. Estabrook Capital Management’s holdings in QUALCOMM were worth $234,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of QCOM. Ronald Blue & Co. LLC increased its holdings in QUALCOMM by 0.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after purchasing an additional 18 shares in the last quarter. Hollencrest Securities LLC increased its holdings in QUALCOMM by 0.9% during the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after purchasing an additional 40 shares in the last quarter. North Star Investment Management Corp. increased its holdings in QUALCOMM by 0.4% during the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock worth $522,000 after purchasing an additional 42 shares in the last quarter. FCA Corp TX increased its holdings in 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 purchasing an additional 43 shares in the last quarter. Finally, Farmers Trust Co. increased its holdings in QUALCOMM by 0.9% during the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock worth $288,000 after purchasing an additional 48 shares in the last quarter. 76.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at $64.57 on Friday. QUALCOMM Incorporated has a 12-month low of $48.92 and a 12-month high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $95,186.84, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the business posted $1.28 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. equities research analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.53%. QUALCOMM’s payout ratio is 138.18%.
A number of brokerages have commented on QCOM. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. BidaskClub raised QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price objective on shares of QUALCOMM in a report on Thursday, August 24th. UBS AG decreased their price objective on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a report on Monday, November 6th. Finally, Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.62.
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In other news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold 25,837 shares of company stock worth $1,512,049 in the last 90 days. Company insiders own 0.17% of the company’s stock.
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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