QUALCOMM Incorporated (QCOM) Shares Sold by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 220,672 shares of the wireless technology company’s stock after selling 63,145 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in QUALCOMM were worth $12,186,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. United Asset Strategies Inc. bought a new stake in QUALCOMM during the 2nd quarter worth approximately $5,249,000. Stifel Financial Corp increased its holdings in QUALCOMM by 47.4% during the 1st quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock worth $168,002,000 after acquiring an additional 943,026 shares during the period. Private Asset Management Inc. increased its holdings in QUALCOMM by 0.5% during the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after acquiring an additional 4,028 shares during the period. Pacer Advisors Inc. increased its holdings in shares of QUALCOMM by 18.1% in the 1st quarter. Pacer Advisors Inc. now owns 67,369 shares of the wireless technology company’s stock worth $3,863,000 after buying an additional 10,336 shares during the last quarter. Finally, First Foundation Advisors increased its holdings in shares of QUALCOMM by 0.6% in the 1st quarter. First Foundation Advisors now owns 269,214 shares of the wireless technology company’s stock worth $15,437,000 after buying an additional 1,503 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.01% and a net margin of 11.06%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the business posted $1.28 EPS. QUALCOMM’s revenue for the quarter was down 3.5% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
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A number of equities analysts have recently commented on QCOM shares. Stifel Nicolaus reissued a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, October 17th. William Blair reissued a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th. Northland Securities raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target on the stock in a report on Friday, September 15th. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.92.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 5,837 shares of company stock valued at $303,249 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
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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