QUALCOMM Incorporated (QCOM) Holdings Reduced by Cornerstone Capital Inc.
Cornerstone Capital Inc. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,479 shares of the wireless technology company’s stock after selling 1,422 shares during the quarter. Cornerstone Capital Inc.’s holdings in QUALCOMM were worth $7,205,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its holdings 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 acquiring an additional 250 shares during the period. Alpha Windward LLC lifted its holdings 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 acquiring an additional 153 shares during the period. Welch Group LLC lifted its holdings in QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after acquiring an additional 69 shares during the period. American National Bank lifted its holdings 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 acquiring an additional 812 shares during the period. Finally, Ronald Blue & Co. LLC lifted its holdings in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after acquiring an additional 18 shares during the period. 76.93% of the stock is owned by institutional investors.
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QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.41 on Wednesday. QUALCOMM Incorporated has a 12-month low of $48.92 and a 12-month high of $71.62. The firm has a 50-day moving average price of $51.84 and a 200-day moving average price of $54.30. The stock has a market cap of $77.36 billion, a PE ratio of 20.07 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM) last released its earnings results 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 firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 5,810 shares of company stock worth $301,596 in the last ninety days. Insiders own 0.24% of the company’s stock.
A number of research firms have commented on QCOM. Northland Securities downgraded QUALCOMM from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a report on Tuesday, June 27th. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $55.00 target price on shares of QUALCOMM in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.80.
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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