Wealthfront Inc. Has $2.18 Million Position in QUALCOMM Incorporated (QCOM)
Wealthfront Inc. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,543 shares of the wireless technology company’s stock after selling 2,553 shares during the quarter. Wealthfront Inc.’s holdings in QUALCOMM were worth $2,184,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in QCOM. American Asset Management Inc. grew its stake in shares of QUALCOMM by 33.1% in the first quarter. American Asset Management Inc. now owns 5,948 shares of the wireless technology company’s stock valued at $341,000 after buying an additional 1,480 shares in the last quarter. Blue Granite Capital LLC grew its stake in shares of QUALCOMM by 10.1% in the first quarter. Blue Granite Capital LLC now owns 8,460 shares of the wireless technology company’s stock valued at $485,000 after buying an additional 775 shares in the last quarter. Fairbanks Capital Management Inc. grew its stake in shares of QUALCOMM by 0.6% in the first quarter. Fairbanks Capital Management Inc. now owns 402,879 shares of the wireless technology company’s stock valued at $23,101,000 after buying an additional 2,506 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of QUALCOMM in the first quarter valued at $309,000. Finally, Sawtooth Solutions LLC grew its stake in shares of QUALCOMM by 53.0% in the first quarter. Sawtooth Solutions LLC now owns 26,911 shares of the wireless technology company’s stock valued at $1,543,000 after buying an additional 9,318 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) opened at $68.13 on Thursday. The firm has a market capitalization of $98,282.58, a PE ratio of 17.64, a PEG ratio of 1.86 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. QUALCOMM Incorporated has a twelve month low of $48.92 and a twelve month high of $70.24.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company 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%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 earnings per share. research analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The business 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 $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is presently 138.18%.
QCOM has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price objective on shares of QUALCOMM in a research report on Thursday, August 24th. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, September 5th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $65.42.
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In related news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders sold 28,937 shares of company stock worth $1,787,969 over the last quarter. 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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