Trust Investment Advisors Takes Position in QUALCOMM, Inc. (NASDAQ:QCOM)
Trust Investment Advisors bought a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,390 shares of the wireless technology company’s stock, valued at approximately $714,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. FIL Ltd boosted its position in shares of QUALCOMM by 179.2% during the first quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock valued at $272,050,000 after purchasing an additional 3,061,598 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of QUALCOMM by 7,630.5% during the second quarter. Thoroughbred Financial Services LLC now owns 1,290,065 shares of the wireless technology company’s stock valued at $129,006,000 after purchasing an additional 1,273,377 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of QUALCOMM by 48.5% during the first quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock valued at $183,728,000 after purchasing an additional 1,052,071 shares in the last quarter. First Trust Advisors LP boosted its position in shares of QUALCOMM by 18.5% during the first quarter. First Trust Advisors LP now owns 2,659,746 shares of the wireless technology company’s stock valued at $151,685,000 after purchasing an additional 416,097 shares in the last quarter. Finally, Smead Capital Management Inc. boosted its position in shares of QUALCOMM by 108.7% during the second quarter. Smead Capital Management Inc. now owns 762,437 shares of the wireless technology company’s stock valued at $57,999,000 after purchasing an additional 397,152 shares in the last quarter. 76.18% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Michelle M. Sterling sold 5,560 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the transaction, the senior vice president now owns 1,386 shares of the company’s stock, valued at approximately $97,518.96. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s revenue was down 12.7% on a year-over-year basis. As a group, equities research analysts predict that QUALCOMM, Inc. will post 2.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is currently 77.74%.
Several research firms recently weighed in on QCOM. Argus lifted their price target on QUALCOMM to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price target on shares of QUALCOMM in a research report on Monday, July 22nd. TheStreet upgraded QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday, August 1st. Raymond James raised QUALCOMM from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $85.00 to $115.00 in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on QUALCOMM from $88.00 to $96.00 and gave the stock a “positive” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Hold” and a consensus price target of $79.93.
QUALCOMM Company Profile
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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