Qualcomm Inc. (QCOM) Shares Bought by ING Groep NV
ING Groep NV boosted its stake in Qualcomm Inc. (NASDAQ:QCOM) by 11.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,400 shares of the wireless technology company’s stock after buying an additional 24,078 shares during the period. ING Groep NV’s holdings in Qualcomm were worth $12,981,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of QCOM. Bellecapital International Ltd. purchased a new stake in shares of Qualcomm during the first quarter valued at about $258,000. Douglas Lane & Associates LLC purchased a new stake in shares of Qualcomm during the first quarter valued at about $60,469,000. IMS Capital Management raised its stake in shares of Qualcomm by 125.3% in the first quarter. IMS Capital Management now owns 27,785 shares of the wireless technology company’s stock valued at $1,421,000 after buying an additional 15,450 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Qualcomm by 15.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 12,037 shares of the wireless technology company’s stock valued at $616,000 after buying an additional 1,598 shares during the period. Finally, Hills Bank & Trust Co. raised its stake in shares of Qualcomm by 1.7% in the first quarter. Hills Bank & Trust Co. now owns 32,082 shares of the wireless technology company’s stock valued at $1,641,000 after buying an additional 532 shares during the period. 78.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% during midday trading on Friday, reaching $68.19. The company’s stock had a trading volume of 8,398,099 shares. The firm has a market capitalization 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 of $63.68 and a 200 day moving average of $56.84.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts predict that Qualcomm Inc. will post $4.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.11%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio is currently 62.17%.
QCOM has been the subject of several research analyst reports. Vetr raised Qualcomm from a “hold” rating to a “buy” rating and set a $58.08 price target for the company in a research note on Monday, June 13th. Morgan Stanley reaffirmed a “buy” rating on shares of Qualcomm in a research note on Wednesday, June 15th. Sanford C. Bernstein lowered Qualcomm from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $53.55 to $55.00 in a research note on Thursday, June 30th. Evercore ISI lowered Qualcomm from a “buy” rating to a “hold” rating and dropped their price target for the stock from $60.00 to $55.00 in a research note on Friday, July 1st. Finally, KeyCorp reaffirmed a “buy” rating and set a $59.00 price target on shares of Qualcomm in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $64.05.
In other news, EVP Matthew S. Grob sold 33,000 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $68.18, for a total transaction of $136,360.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company 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.
Receive News & Stock Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related stocks with our FREE daily email newsletter.