Wendell David Associates Inc. Sells 6,771 Shares of QUALCOMM, Inc. (QCOM)
Wendell David Associates Inc. cut its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,485 shares of the wireless technology company’s stock after selling 6,771 shares during the period. Wendell David Associates Inc.’s holdings in QUALCOMM were worth $3,812,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in QCOM. FMR LLC raised its stake in QUALCOMM by 3.7% in the fourth quarter. FMR LLC now owns 68,251,589 shares of the wireless technology company’s stock valued at $4,450,003,000 after buying an additional 2,439,365 shares during the last quarter. State Street Corp raised its stake in QUALCOMM by 1.6% in the fourth quarter. State Street Corp now owns 67,531,171 shares of the wireless technology company’s stock worth $4,403,029,000 after buying an additional 1,059,009 shares during the last quarter. Northern Trust Corp raised its stake in QUALCOMM by 2.6% in the third quarter. Northern Trust Corp now owns 20,283,988 shares of the wireless technology company’s stock worth $1,389,454,000 after buying an additional 513,204 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in QUALCOMM by 9.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 18,415,572 shares of the wireless technology company’s stock worth $1,261,467,000 after buying an additional 1,647,152 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in QUALCOMM by 3.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 16,458,657 shares of the wireless technology company’s stock worth $1,073,104,000 after buying an additional 531,407 shares during the last quarter. 79.28% of the stock is owned by institutional investors.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at 56.12 on Friday. The firm has a market capitalization of $82.91 billion, a PE ratio of 18.70 and a beta of 1.31. The company’s 50 day moving average is $54.67 and its 200 day moving average is $60.05. QUALCOMM, Inc. has a 12-month low of $50.84 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.29. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the prior year, the business earned $1.04 EPS. QUALCOMM’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts forecast that QUALCOMM, Inc. will post $4.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.06%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 26th. QUALCOMM’s dividend payout ratio is presently 64.63%.
QCOM has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of QUALCOMM in a report on Wednesday, January 25th. Brean Capital reaffirmed a “hold” rating on shares of QUALCOMM in a report on Thursday, January 26th. Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 price target on shares of QUALCOMM in a report on Tuesday, February 7th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $73.00 price target on shares of QUALCOMM in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $63.62.
In other QUALCOMM news, EVP Donald J. Rosenberg sold 10,701 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $55.02, for a total transaction of $588,769.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann M. Livermore purchased 9,000 shares of QUALCOMM stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $54.59 per share, with a total value of $491,310.00. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.
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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