QUALCOMM Incorporated (QCOM) Holdings Boosted by Ropes Wealth Advisors LLC
Ropes Wealth Advisors LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 62.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,035 shares of the wireless technology company’s stock after buying an additional 3,489 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in QUALCOMM were worth $499,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Jacobi Capital Management LLC lifted its stake in QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares during the period. Alpha Windward LLC lifted its stake in QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares during the period. Penserra Capital Management LLC lifted its stake in QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after buying an additional 842 shares during the period. FNY Partners Fund LP lifted its stake in QUALCOMM by 102.0% in the second quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock valued at $171,000 after buying an additional 1,565 shares during the period. Finally, American National Bank lifted its stake in QUALCOMM by 28.7% in the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after buying an additional 812 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on QCOM. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price target on shares of QUALCOMM in a research note on Thursday, August 24th. William Blair restated a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th. Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a report on Monday, July 31st. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and an average price target of $65.42.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at $68.91 on Friday. The stock has a market capitalization of $100,434.86, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.91 and a beta of 1.26. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.31%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold a total of 28,937 shares of company stock valued at $1,787,969 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.
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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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