Compass Capital Management Inc. Has $19,084,000 Stake in Qualcomm Inc. (QCOM)
Compass Capital Management Inc. increased its stake in Qualcomm Inc. (NASDAQ:QCOM) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,241 shares of the wireless technology company’s stock after buying an additional 23,132 shares during the period. Qualcomm makes up 3.6% of Compass Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Compass Capital Management Inc.’s holdings in Qualcomm were worth $19,084,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of QCOM. Badgley Phelps & Bell Inc. increased its stake in shares of Qualcomm by 5.7% in the first quarter. Badgley Phelps & Bell Inc. now owns 142,177 shares of the wireless technology company’s stock valued at $7,271,000 after buying an additional 7,664 shares during the period. Virginia Retirement System bought a new stake in shares of Qualcomm during the first quarter valued at approximately $8,314,000. Nisa Investment Advisors L.L.C. increased its stake in shares of Qualcomm by 16.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 524,496 shares of the wireless technology company’s stock valued at $26,823,000 after buying an additional 72,330 shares during the period. Alexandria Capital LLC increased its stake in shares of Qualcomm by 20.8% in the first quarter. Alexandria Capital LLC now owns 28,191 shares of the wireless technology company’s stock valued at $1,442,000 after buying an additional 4,859 shares during the period. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in shares of Qualcomm during the first quarter valued at approximately $1,691,000. 78.05% of the stock is owned by hedge funds and other institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) traded down 0.0708% during midday trading on Wednesday, hitting $66.0432. The stock had a trading volume of 5,160,815 shares. The firm has a market capitalization of $97.32 billion, a P/E ratio of 19.3391 and a beta of 1.25. Qualcomm Inc. has a 52-week low of $42.24 and a 52-week high of $70.40. The firm has a 50-day moving average of $63.90 and a 200 day moving average of $57.10.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Qualcomm Inc. will post $4.30 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.21%. Qualcomm’s dividend payout ratio is presently 62.17%.
Several brokerages have recently commented on QCOM. Argus reissued a “buy” rating and issued a $73.00 price objective (up from $70.00) on shares of Qualcomm in a research note on Friday, September 30th. BMO Capital Markets reissued an “underperform” rating and issued a $53.00 price objective on shares of Qualcomm in a research note on Sunday, October 2nd. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $70.00 price objective (up from $63.00) on shares of Qualcomm in a research note on Monday, October 3rd. Royal Bank Of Canada increased their price objective on Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, October 3rd. Finally, Vetr downgraded Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $64.20.
In other Qualcomm news, Director Raymond V. Dittamore sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total value of $427,000.00. Following the completion of the sale, the director now directly owns 12,765 shares in the company, valued at $778,665. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Derek K. Aberle sold 22,653 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total transaction of $1,403,353.35. Following the completion of the sale, the president now owns 69,234 shares of the company’s stock, valued at $4,289,046.30. 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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