QUALCOMM Incorporated (QCOM) Stake Decreased by Raab & Moskowitz Asset Management LLC
Raab & Moskowitz Asset Management LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,631 shares of the wireless technology company’s stock after selling 474 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in QUALCOMM were worth $242,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 1.5% during the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after purchasing an additional 1,537,645 shares in the last quarter. FMR LLC raised its stake in shares of QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares in the last quarter. Northern Trust Corp raised its stake in shares of QUALCOMM by 2.6% during the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after purchasing an additional 499,531 shares in the last quarter. Capital International Investors raised its stake in shares of QUALCOMM by 59.9% during the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after purchasing an additional 5,671,176 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of QUALCOMM by 3.1% during the second quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock valued at $537,426,000 after purchasing an additional 288,413 shares in the last quarter. Institutional investors own 76.66% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $64.86 on Wednesday. The firm has a market capitalization of $96,086.08, a PE ratio of 17.24, a P/E/G ratio of 1.85 and a beta of 1.39. QUALCOMM Incorporated has a 12 month low of $48.92 and a 12 month high of $70.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. analysts expect that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors 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 3.52%. QUALCOMM’s dividend payout ratio is currently 138.18%.
In related news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. Insiders sold a total of 29,427 shares of company stock worth $1,827,995 in the last three months. 0.24% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the stock. BidaskClub cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Stifel Nicolaus cut shares of QUALCOMM from a “buy” rating to a “hold” rating and lifted their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Vetr cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price objective on the stock. in a research note on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $66.02.
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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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