Qualcomm (QCOM) Position Trimmed by Aperio Group LLC
Aperio Group LLC decreased its position in Qualcomm (NASDAQ:QCOM) by 0.2% during the 1st quarter, Holdings Channel reports. The firm owned 624,173 shares of the wireless technology company’s stock after selling 998 shares during the quarter. Aperio Group LLC’s holdings in Qualcomm were worth $34,585,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Truewealth LLC acquired a new stake in Qualcomm in the fourth quarter valued at $102,000. We Are One Seven LLC acquired a new stake in shares of Qualcomm during the fourth quarter valued at $119,000. Gradient Investments LLC acquired a new stake in shares of Qualcomm during the fourth quarter valued at $120,000. Cerebellum GP LLC acquired a new stake in shares of Qualcomm during the fourth quarter valued at $126,000. Finally, Avestar Capital LLC acquired a new stake in shares of Qualcomm during the fourth quarter valued at $141,000. 78.21% of the stock is currently owned by institutional investors.
A number of research firms recently commented on QCOM. ValuEngine raised Qualcomm from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Citigroup began coverage on Qualcomm in a research note on Thursday, April 12th. They set a “neutral” rating and a $58.00 price objective on the stock. KeyCorp increased their price objective on Qualcomm from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Morgan Stanley began coverage on Qualcomm in a research note on Monday, March 19th. They set an “underweight” rating and a $55.00 price objective on the stock. Finally, Zacks Investment Research lowered Qualcomm from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $64.17.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 25th. The wireless technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.10. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.21 billion. Qualcomm had a positive return on equity of 16.48% and a negative net margin of 20.16%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.34 EPS. equities analysts anticipate that Qualcomm will post 2.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 30th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.37%. This is an increase from Qualcomm’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, May 29th. Qualcomm’s dividend payout ratio (DPR) is 60.32%.
Qualcomm declared that its board has approved a share repurchase program on Wednesday, May 9th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the wireless technology company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, President Cristiano R. Amon sold 16,082 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $53.04, for a total value of $852,989.28. Following the transaction, the president now directly owns 37,233 shares in the company, valued at approximately $1,974,838.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald J. Rosenberg sold 11,670 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $53.01, for a total value of $618,626.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,383 shares of company stock worth $4,762,616. Company insiders own 0.24% of the company’s stock.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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