QUALCOMM Incorporated (QCOM) Shares Bought by Keystone Financial Planning Inc.
Keystone Financial Planning Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,574 shares of the wireless technology company’s stock after purchasing an additional 3,922 shares during the quarter. QUALCOMM makes up 2.7% of Keystone Financial Planning Inc.’s holdings, making the stock its 19th biggest position. Keystone Financial Planning Inc.’s holdings in QUALCOMM were worth $4,449,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobi Capital Management LLC boosted its position in QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after acquiring an additional 250 shares during the last quarter. Alpha Windward LLC boosted its position in QUALCOMM by 6.1% during the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after acquiring an additional 153 shares during the last quarter. Welch Group LLC boosted its position in QUALCOMM by 2.3% during the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after acquiring an additional 69 shares during the last quarter. American National Bank boosted its position in QUALCOMM by 28.7% during the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 812 shares during the last quarter. Finally, Ronald Blue & Co. LLC boosted its position in QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.
In other news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 5,810 shares of company stock worth $301,596 in the last quarter. Insiders own 0.17% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) opened at 54.12 on Thursday. The stock has a market capitalization of $79.88 billion, a P/E ratio of 20.73 and a beta of 1.28. The firm has a 50 day moving average of $51.82 and a 200-day moving average of $54.39. QUALCOMM Incorporated has a 12 month low of $48.92 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. Analysts forecast that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.21%. QUALCOMM’s dividend payout ratio is currently 87.36%.
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A number of research firms recently weighed in on QCOM. Northland Securities lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $75.00 to $62.50 in a research report on Wednesday, June 28th. BMO Capital Markets restated a “market perform” rating and set a $54.00 price target on shares of QUALCOMM in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Rosenblatt Securities restated a “neutral” rating and set a $56.00 price target on shares of QUALCOMM in a research report on Friday, June 30th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.00.
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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