Madison Investment Holdings Inc. Has $16.86 Million Stake in QUALCOMM Incorporated (QCOM)
Madison Investment Holdings Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 55.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 293,968 shares of the wireless technology company’s stock after buying an additional 104,748 shares during the period. Madison Investment Holdings Inc.’s holdings in QUALCOMM were worth $16,856,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in QCOM. Congress Asset Management Co. MA raised its position in QUALCOMM by 5.8% in the first quarter. Congress Asset Management Co. MA now owns 74,585 shares of the wireless technology company’s stock worth $4,277,000 after buying an additional 4,057 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in QUALCOMM by 4.4% in the first quarter. Peapack Gladstone Financial Corp now owns 222,248 shares of the wireless technology company’s stock worth $12,744,000 after buying an additional 9,283 shares during the last quarter. Private Advisor Group LLC raised its position in QUALCOMM by 7.8% in the first quarter. Private Advisor Group LLC now owns 45,280 shares of the wireless technology company’s stock worth $2,559,000 after buying an additional 3,284 shares during the last quarter. Trust Co. of Toledo NA OH raised its position in QUALCOMM by 2.5% in the first quarter. Trust Co. of Toledo NA OH now owns 45,638 shares of the wireless technology company’s stock worth $2,616,000 after buying an additional 1,108 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after buying an additional 5,054,642 shares during the last quarter. Institutional investors own 77.07% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.81% during mid-day trading on Tuesday, hitting $51.39. The stock had a trading volume of 1,254,230 shares. The company’s 50 day moving average is $53.67 and its 200-day moving average is $55.51. The stock has a market capitalization of $75.86 billion, a P/E ratio of 19.68 and a beta of 1.29. QUALCOMM Incorporated has a 52 week low of $51.05 and a 52 week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion during 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 business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. On average, analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.40%. QUALCOMM’s payout ratio is 87.36%.
A number of research analysts recently weighed in on QCOM shares. Vetr lowered QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $60.86 target price on the stock. in a report on Tuesday, May 9th. Canaccord Genuity decreased their target price on QUALCOMM from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Monday, May 1st. Stifel Nicolaus boosted their target price on QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 26th. Finally, Morgan Stanley boosted their target price on QUALCOMM from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $63.96.
In other news, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the transaction, the president now owns 5,855 shares in the company, valued at $324,249.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were 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 have sold 50,862 shares of company stock valued at $2,848,964. Company insiders own 0.24% 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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