QUALCOMM, Inc. (QCOM) Shares Sold by Usca Ria LLC
Usca Ria LLC decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 19.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,288 shares of the wireless technology company’s stock after selling 37,299 shares during the period. QUALCOMM accounts for approximately 0.9% of Usca Ria LLC’s portfolio, making the stock its 20th biggest holding. Usca Ria LLC’s holdings in QUALCOMM were worth $8,603,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Telemus Capital LLC increased its holdings in shares of QUALCOMM by 8.7% in the second quarter. Telemus Capital LLC now owns 9,860 shares of the wireless technology company’s stock valued at $553,000 after purchasing an additional 787 shares during the period. First Commonwealth Financial Corp PA increased its holdings in shares of QUALCOMM by 6.6% in the fourth quarter. First Commonwealth Financial Corp PA now owns 13,353 shares of the wireless technology company’s stock valued at $855,000 after purchasing an additional 822 shares during the period. Bradley Foster & Sargent Inc. CT increased its holdings in shares of QUALCOMM by 2.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 29,757 shares of the wireless technology company’s stock valued at $1,670,000 after purchasing an additional 825 shares during the period. Glenview Trust Co increased its holdings in shares of QUALCOMM by 8.3% in the first quarter. Glenview Trust Co now owns 12,083 shares of the wireless technology company’s stock valued at $669,000 after purchasing an additional 921 shares during the period. Finally, Penserra Capital Management LLC increased its holdings in shares of QUALCOMM by 24.1% in the first quarter. Penserra Capital Management LLC now owns 4,864 shares of the wireless technology company’s stock valued at $269,000 after purchasing an additional 944 shares during the period. 77.42% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on QCOM shares. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Canaccord Genuity dropped their target price on QUALCOMM from $79.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, April 26th. Royal Bank of Canada reissued a “buy” rating and issued a $75.00 target price on shares of QUALCOMM in a report on Tuesday, April 24th. Summit Insights raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $66.97.
QCOM opened at $66.06 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $69.28. The firm has a market cap of $95.23 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.91 and a beta of 1.57.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.30. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.19 billion. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. equities analysts anticipate that QUALCOMM, Inc. will post 3.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 5th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.75%. QUALCOMM’s dividend payout ratio (DPR) is currently 65.61%.
QUALCOMM announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 9th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the wireless technology company to reacquire up to 12.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
QUALCOMM Company Profile
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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