Page Arthur B Sells 8,615 Shares of QUALCOMM Incorporated (QCOM)
Page Arthur B reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 50.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,520 shares of the wireless technology company’s stock after selling 8,615 shares during the period. Page Arthur B’s holdings in QUALCOMM were worth $470,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jacobi Capital Management LLC increased its stake in shares of QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after buying an additional 250 shares in the last quarter. Alpha Windward LLC increased its stake in shares of QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after buying an additional 153 shares in the last quarter. American National Bank increased its stake in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares in the last quarter. Welch Group LLC increased its stake in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares in the last quarter. Finally, Commonwealth Financial Services LLC increased its stake in shares of QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock worth $205,000 after buying an additional 3,022 shares in the last quarter. 76.59% of the stock is currently owned by institutional investors.
QUALCOMM Incorporated (QCOM) traded up 0.24% during trading on Tuesday, reaching $53.68. 2,491,706 shares of the company’s stock were exchanged. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. The firm’s 50-day moving average price is $54.38 and its 200-day moving average price is $55.59. The firm has a market cap of $79.24 billion, a price-to-earnings ratio of 20.56 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. On average, equities research analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be paid a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a yield of 4.26%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
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A number of brokerages recently weighed in on QCOM. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 price target on shares of QUALCOMM in a research report on Saturday, April 22nd. UBS AG reiterated a “neutral” rating and issued a $58.00 price target on shares of QUALCOMM in a research report on Tuesday, May 2nd. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price target on the stock. in a research report on Tuesday, May 2nd. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a research report on Monday, May 15th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and an average target price of $63.96.
In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the transaction, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the transaction, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 52,101 shares of company stock valued at $2,955,612 in the last 90 days. Corporate 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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