Qualcomm Inc. (QCOM) Position Increased by Conning Inc.
Conning Inc. increased its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,737 shares of the wireless technology company’s stock after buying an additional 19,357 shares during the period. Conning Inc.’s holdings in Qualcomm were worth $25,485,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. CapWealth Advisors LLC raised its position in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Qualcomm during the second quarter worth $121,000. Delta Asset Management LLC TN increased its stake in shares of Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock worth $129,000 after buying an additional 275 shares during the last quarter. Finally, Zions Bancorporation increased its stake in shares of Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock worth $155,000 after buying an additional 2,235 shares during the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded up 1.56% during trading on Friday, hitting $68.50. The stock had a trading volume of 34,879,502 shares. The company has a market cap of $100.94 billion, a price-to-earnings ratio of 20.06 and a beta of 1.22. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $70.40. The company has a 50-day moving average of $62.97 and a 200 day moving average of $56.28.
Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. On average, equities research analysts anticipate that Qualcomm Inc. will post $4.30 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were given a dividend of $0.53 per share. The ex-dividend date was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.09%. Qualcomm’s payout ratio is 62.17%.
QCOM has been the subject of a number of research analyst reports. KeyCorp reissued a “buy” rating and issued a $59.00 price target on shares of Qualcomm in a report on Wednesday, July 6th. Morgan Stanley reissued a “buy” rating on shares of Qualcomm in a report on Wednesday, June 15th. Vetr raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $58.08 price target for the company in a report on Monday, June 13th. Zacks Investment Research raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Monday, July 11th. Finally, Bank of America Corp. reissued a “buy” rating on shares of Qualcomm in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $63.02.
In related news, EVP Matthew S. Grob sold 33,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $59.85, for a total transaction of $1,975,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew S. Grob sold 74,000 shares of the company’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $66.63, for a total value of $4,930,620.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
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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