QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by US Bancorp DE
US Bancorp DE lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,613,285 shares of the wireless technology company’s stock after selling 12,613 shares during the period. US Bancorp DE owned about 0.11% of QUALCOMM worth $92,506,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of QCOM. WealthTrust Axiom LLC boosted its stake in shares of QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock worth $332,000 after buying an additional 15 shares in the last quarter. Liberty Capital Management Inc. boosted its stake in shares of QUALCOMM by 0.4% in the first quarter. Liberty Capital Management Inc. now owns 6,797 shares of the wireless technology company’s stock worth $390,000 after buying an additional 25 shares in the last quarter. Excalibur Management Corp boosted its stake in shares of QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock worth $251,000 after buying an additional 31 shares in the last quarter. Gierl Augustine Investment Management Inc boosted its stake in shares of QUALCOMM by 0.9% in the first quarter. Gierl Augustine Investment Management Inc now owns 5,350 shares of the wireless technology company’s stock worth $307,000 after buying an additional 50 shares in the last quarter. Finally, Pacific Global Investment Management CO boosted its stake in shares of QUALCOMM by 0.3% in the fourth quarter. Pacific Global Investment Management CO now owns 21,703 shares of the wireless technology company’s stock valued at $1,415,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 76.76% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.62% during midday trading on Friday, hitting $52.62. The company had a trading volume of 8,665,838 shares. QUALCOMM Incorporated has a 12-month low of $51.05 and a 12-month high of $71.62. The firm has a market capitalization of $77.67 billion, a P/E ratio of 20.15 and a beta of 1.29. The firm’s 50-day moving average is $55.44 and its 200-day moving average is $56.02.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.16 EPS. On average, analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.33%. QUALCOMM’s payout ratio is currently 87.36%.
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Several equities research analysts have commented on the stock. UBS AG reiterated a “neutral” rating and issued a $58.00 price target on shares of QUALCOMM in a research report on Tuesday, May 2nd. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $75.00 to $62.50 in a research report on Wednesday, June 28th. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, July 25th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 price target on shares of QUALCOMM in a research report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $63.96.
In related news, Director Ann M. Livermore acquired 9,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average cost of $54.59 per share, with a total value of $491,310.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michelle M. Sterling sold 5,509 shares of QUALCOMM stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,802 shares of company stock valued at $3,544,381. 0.17% of the stock is currently 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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