Hills Bank & Trust Co. Has $2,196,000 Stake in Qualcomm Inc. (QCOM)
Hills Bank & Trust Co. decreased its position in Qualcomm Inc. (NASDAQ:QCOM) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,052 shares of the wireless technology company’s stock after selling 120 shares during the period. Hills Bank & Trust Co.’s holdings in Qualcomm were worth $2,196,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Krilogy Financial LLC increased its position in shares of 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 in the last quarter. 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 valued at $111,000 after buying an additional 2,018 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 valued at $119,000 after buying an additional 103 shares during the period. Americafirst Capital Management LLC bought a new stake in Qualcomm during the second quarter valued at $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 valued at $129,000 after buying an additional 275 shares during the period. 78.54% of the stock is owned by institutional investors and hedge funds.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 0.49% on Tuesday, hitting $66.77. 6,544,858 shares of the company traded hands. The firm has a market capitalization of $98.61 billion, a P/E ratio of 17.52 and a beta of 1.36. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $71.62. The firm’s 50-day moving average is $67.23 and its 200 day moving average is $60.96.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.15. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. The business had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s revenue was up 68.2% compared to the same quarter last year. On average, analysts anticipate that Qualcomm Inc. will post $4.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio (DPR) is 55.64%.
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Several research firms have weighed in on QCOM. BMO Capital Markets raised shares of Qualcomm from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $53.00 to $70.00 in a research note on Friday, October 28th. They noted that the move was a valuation call. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of Qualcomm in a research note on Friday, October 28th. Argus reaffirmed a “buy” rating and issued a $73.00 price target (up from $70.00) on shares of Qualcomm in a research note on Friday, September 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $70.00 price target (up from $63.00) on shares of Qualcomm in a research note on Monday, October 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Qualcomm from $59.00 to $70.00 and gave the company a “sector perform” rating in a research note on Monday, October 3rd. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.05.
In other Qualcomm news, President Derek K. Aberle sold 20,874 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $62.81, for a total transaction of $1,311,095.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Derek K. Aberle sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $63.55, for a total transaction of $953,250.00. Following the transaction, the president now owns 33,631 shares in the company, valued at approximately $2,137,250.05. The disclosure for this sale can be found here. Company 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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