QUALCOMM, Inc. (NASDAQ:QCOM) Shares Bought by GWM Advisors LLC
GWM Advisors LLC grew its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 8.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 28,940 shares of the wireless technology company’s stock after acquiring an additional 2,323 shares during the quarter. GWM Advisors LLC’s holdings in QUALCOMM were worth $2,639,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Legato Capital Management LLC acquired a new position in QUALCOMM during the 2nd quarter worth $2,326,000. Waldron Private Wealth LLC boosted its position in QUALCOMM by 24.9% during the 1st quarter. Waldron Private Wealth LLC now owns 41,508 shares of the wireless technology company’s stock worth $2,808,000 after acquiring an additional 8,268 shares during the period. Stock Yards Bank & Trust Co. boosted its position in QUALCOMM by 1.8% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 30,659 shares of the wireless technology company’s stock worth $2,074,000 after acquiring an additional 545 shares during the period. Principal Financial Group Inc. boosted its position in QUALCOMM by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,677,408 shares of the wireless technology company’s stock worth $113,476,000 after acquiring an additional 32,214 shares during the period. Finally, Carnegie Capital Asset Management LLC raised its stake in shares of QUALCOMM by 53.2% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 45,140 shares of the wireless technology company’s stock worth $4,103,000 after buying an additional 15,676 shares in the last quarter. Institutional investors own 74.50% of the company’s stock.
A number of research firms have recently commented on QCOM. Cowen boosted their price objective on QUALCOMM from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada boosted their price objective on QUALCOMM from $81.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Thursday. They noted that the move was a valuation call. Piper Sandler boosted their price objective on QUALCOMM from $80.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday. Mizuho reissued a “buy” rating and issued a $105.00 price objective (up previously from $91.00) on shares of QUALCOMM in a research note on Wednesday. Finally, Goldman Sachs Group downgraded QUALCOMM from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $77.00 to $61.00 in a research note on Friday, April 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $106.36.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. Equities analysts forecast that QUALCOMM, Inc. will post 3.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 2.46%. QUALCOMM’s dividend payout ratio is currently 91.55%.
In related news, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven M. Mollenkopf sold 219,131 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $93.66, for a total transaction of $20,523,809.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,740 shares of company stock worth $22,024,427. Insiders own 0.12% of the company’s stock.
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.
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