QUALCOMM Incorporated (NASDAQ:QCOM) Stake Boosted by Kidder Stephen W
Kidder Stephen W boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 52,747 shares of the wireless technology company’s stock after buying an additional 235 shares during the period. Kidder Stephen W’s holdings in QUALCOMM were worth $3,024,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Wedgewood Partners Inc. boosted its position in shares of QUALCOMM by 39.7% in the first quarter. Wedgewood Partners Inc. now owns 4,081,972 shares of the wireless technology company’s stock worth $234,059,000 after buying an additional 1,160,993 shares in the last quarter. Sii Investments Inc. WI boosted its position in shares of QUALCOMM by 69.4% in the first quarter. Sii Investments Inc. WI now owns 24,857 shares of the wireless technology company’s stock worth $1,423,000 after buying an additional 10,187 shares in the last quarter. Level Four Advisory Services LLC boosted its position in shares of QUALCOMM by 19.3% in the first quarter. Level Four Advisory Services LLC now owns 37,285 shares of the wireless technology company’s stock worth $2,120,000 after buying an additional 6,022 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of QUALCOMM during the first quarter worth $511,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of QUALCOMM during the first quarter worth $13,289,000. 76.61% of the stock is currently owned by institutional investors.
QUALCOMM Incorporated (QCOM) traded up 0.73% during midday trading on Friday, hitting $52.72. 5,894,208 shares of the stock traded hands. The stock’s 50-day moving average price is $54.47 and its 200 day moving average price is $55.60. The company has a market capitalization of $77.82 billion, a price-to-earnings ratio of 20.19 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities research analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is presently 87.36%.
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A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Sanford C. Bernstein reissued a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, July 25th. Finally, BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.96.
In other news, President Derek K. Aberle sold 22,251 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value of $1,281,435.09. Following the sale, the president now directly owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Derek K. Aberle sold 23,104 shares of the company’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 sale, the president now directly owns 5,855 shares in the company, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 52,101 shares of company stock worth $2,955,612 over the last ninety days. 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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