QUALCOMM Incorporated (QCOM) Shares Sold by Level Four Advisory Services LLC
Level Four Advisory Services LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 46.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,151 shares of the wireless technology company’s stock after selling 17,134 shares during the period. Level Four Advisory Services LLC’s holdings in QUALCOMM were worth $1,138,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Ronald Blue & Co. LLC increased its stake in shares of QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares during the period. Hollencrest Securities LLC increased its stake in shares of QUALCOMM by 0.9% during the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares during the period. Farmers Trust Co. increased its stake in shares of QUALCOMM by 0.9% during the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after buying an additional 48 shares during the period. FCA Corp TX increased its stake in shares of QUALCOMM by 1.0% during the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after buying an additional 49 shares during the period. Finally, Meridian Investment Counsel Inc. increased its stake in shares of QUALCOMM by 0.3% during the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after buying an additional 50 shares during the period. 76.66% of the stock is currently owned by hedge funds and other institutional investors.
QCOM has been the topic of several research analyst reports. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a research note on Monday, November 13th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Canaccord Genuity upped their price target on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Citigroup upped their price target on QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Standpoint Research cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $66.02.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. equities research analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.52%. QUALCOMM’s dividend payout ratio is currently 138.18%.
In other news, EVP Michelle M. Sterling sold 7,840 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,427 shares of company stock worth $1,827,995. 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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