Sii Investments Inc. WI Buys 10,187 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)
Sii Investments Inc. WI increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 69.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 24,857 shares of the wireless technology company’s stock after buying an additional 10,187 shares during the period. Sii Investments Inc. WI’s holdings in QUALCOMM were worth $1,423,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the company. American National Bank boosted its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares in the last quarter. Welch Group LLC boosted its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares in the last quarter. Commonwealth Financial Services LLC boosted its position in shares of QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock worth $205,000 after buying an additional 3,022 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of QUALCOMM during the first quarter worth approximately $218,000. Finally, Good Life Advisors LLC bought a new position in shares of QUALCOMM during the first quarter worth approximately $225,000. 76.61% of the stock is currently owned by institutional investors.
Shares of QUALCOMM Incorporated (QCOM) traded up 0.3059% during mid-day trading on Friday, hitting $52.5001. The company had a trading volume of 1,734,017 shares. The firm has a 50-day moving average price of $54.58 and a 200 day moving average price of $55.62. The firm has a market capitalization of $77.49 billion, a price-to-earnings ratio of 20.1073 and a beta of 1.29. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week 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 for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. Analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.36%. QUALCOMM’s payout ratio is currently 87.36%.
A number of equities analysts recently commented on QCOM shares. Mizuho reaffirmed a “buy” rating and issued a $68.00 target price (down from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. Canaccord Genuity decreased their target price on QUALCOMM from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of QUALCOMM in a report on Monday, April 17th. Standpoint Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Friday, April 28th. Finally, Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price target on the stock. in a report on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $63.96.
In related news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the transaction, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Derek K. Aberle sold 22,251 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the transaction, the president now directly owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The disclosure for this sale can be found here. Insiders have sold a total of 52,101 shares of company stock valued at $2,955,612 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.
QUALCOMM Company Profile
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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