Hamlin Capital Management LLC Has $77,933,000 Stake in Qualcomm Inc. (QCOM)
Hamlin Capital Management LLC increased its stake in Qualcomm Inc. (NASDAQ:QCOM) by 47.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,454,791 shares of the wireless technology company’s stock after buying an additional 470,550 shares during the period. Qualcomm makes up about 3.8% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Hamlin Capital Management LLC owned approximately 0.10% of Qualcomm worth $77,933,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Evergreen Capital Management LLC boosted its position in Qualcomm by 15.6% in the second quarter. Evergreen Capital Management LLC now owns 5,925 shares of the wireless technology company’s stock valued at $317,000 after buying an additional 800 shares during the period. Essex Investment Management Co. LLC acquired a new position in Qualcomm during the second quarter valued at about $360,000. VNBTrust National Association boosted its position in Qualcomm by 77.3% in the second quarter. VNBTrust National Association now owns 10,552 shares of the wireless technology company’s stock valued at $565,000 after buying an additional 4,600 shares during the period. Alps Advisors Inc. boosted its position in Qualcomm by 16.9% in the second quarter. Alps Advisors Inc. now owns 490,073 shares of the wireless technology company’s stock valued at $26,253,000 after buying an additional 71,027 shares during the period. Finally, Calamos Advisors LLC boosted its position in Qualcomm by 100.9% in the second quarter. Calamos Advisors LLC now owns 732,179 shares of the wireless technology company’s stock valued at $39,223,000 after buying an additional 367,740 shares during the period. Institutional investors own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% during mid-day trading on Friday, hitting $68.19. 8,398,099 shares of the stock traded hands. The stock has a market cap of $100.49 billion, a P/E ratio of 19.97 and a beta of 1.25. Qualcomm Inc. has a 12 month low of $42.24 and a 12 month high of $70.40. The stock has a 50-day moving average price of $63.68 and a 200-day moving average price of $56.84.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company earned $0.99 EPS. Qualcomm’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 annualized dividend and a yield of 3.11%. Qualcomm’s dividend payout ratio is presently 62.17%.
Several research firms recently issued reports on QCOM. RBC Capital Markets reissued a “sector perform” rating and set a $70.00 price target (up from $59.00) on shares of Qualcomm in a report on Monday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $70.00 price target (up from $63.00) on shares of Qualcomm in a report on Monday. Royal Bank Of Canada increased their price target on Qualcomm from $59.00 to $70.00 and gave the company a “sector perform” rating in a report on Monday. Vetr cut Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a report on Monday. Finally, BMO Capital Markets reissued an “underperform” rating and set a $53.00 price target on shares of Qualcomm in a report on Sunday, October 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $63.98.
In related news, EVP Matthew S. Grob sold 2,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $62.37, for a total transaction of $124,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew S. Grob sold 33,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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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