Addison Capital Co Sells 223 Shares of Qualcomm Inc. (QCOM)
Addison Capital Co cut its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,720 shares of the wireless technology company’s stock after selling 223 shares during the period. Qualcomm comprises about 2.0% of Addison Capital Co’s holdings, making the stock its 16th largest position. Addison Capital Co’s holdings in Qualcomm were worth $2,241,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Pinkerton Retirement Specialists LLC increased its stake in Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock worth $111,000 after buying an additional 2,018 shares during the period. Krilogy Financial LLC increased its stake in Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock worth $111,000 after buying an additional 791 shares during the period. Joel Isaacson & Co. LLC increased its stake in 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 period. Americafirst Capital Management LLC acquired a new stake in Qualcomm during the second quarter worth $121,000. Finally, Delta Asset Management LLC TN increased its stake in 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 period. 78.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 0.97% during mid-day trading on Monday, hitting $67.10. The stock had a trading volume of 8,225,168 shares. The stock’s 50-day moving average price is $67.23 and its 200-day moving average price is $60.96. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $71.62. The stock has a market capitalization of $99.10 billion, a price-to-earnings ratio of 17.61 and a beta of 1.36.
Qualcomm (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $9.17 billion for the quarter, compared to the consensus estimate of $5.84 billion. Qualcomm had a return on equity of 19.31% and a net margin of 24.22%. Qualcomm’s revenue was up 68.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. On average, equities analysts anticipate that Qualcomm Inc. will post $4.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Monday, November 28th. Qualcomm’s payout ratio is currently 55.64%.
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A number of analysts have commented on QCOM shares. Vetr upgraded Qualcomm from a “buy” rating to a “strong-buy” rating and set a $76.60 target price on the stock in a research report on Monday. Morgan Stanley downgraded Qualcomm from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $67.88 to $65.00 in a research report on Thursday, November 10th. They noted that the move was a valuation call. Cowen and Company reiterated an “outperform” rating and set a $74.00 target price on shares of Qualcomm in a research report on Monday, November 7th. Canaccord Genuity reiterated a “buy” rating and set a $81.00 target price on shares of Qualcomm in a research report on Friday, November 4th. Finally, Pacific Crest reiterated a “buy” rating and set a $83.00 target price on shares of Qualcomm in a research report on Thursday, November 3rd. Seventeen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Qualcomm presently has a consensus rating of “Buy” and an average price target of $66.05.
In other news, President Derek K. Aberle sold 20,874 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $62.81, for a total value of $1,311,095.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP James H. Thompson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $60.94, for a total value of $609,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,497 shares in the company, valued at $3,625,747.18. The disclosure for this sale can be found here. 0.24% of the stock is owned by 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.
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