QUALCOMM Incorporated (QCOM) Shares Sold by Broderick Brian C
Broderick Brian C decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,328 shares of the wireless technology company’s stock after selling 1,025 shares during the period. Broderick Brian C’s holdings in QUALCOMM were worth $350,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Baupost Group LLC MA bought a new position in QUALCOMM during the first quarter valued at approximately $299,085,000. Nordea Investment Management AB raised its position in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares during the period. Schroder Investment Management Group raised its position in QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after buying an additional 1,544,792 shares during the period. Pictet Asset Management Ltd. raised its position in QUALCOMM by 73.7% in the first quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock valued at $180,788,000 after buying an additional 1,337,883 shares during the period. Finally, Wedgewood Partners Inc. raised its position in QUALCOMM by 39.7% in the first quarter. Wedgewood Partners Inc. now owns 4,081,972 shares of the wireless technology company’s stock valued at $234,059,000 after buying an additional 1,160,993 shares during the period. 76.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.4726% during midday trading on Wednesday, hitting $53.6154. 2,641,548 shares of the stock traded hands. QUALCOMM Incorporated has a 12-month low of $51.05 and a 12-month high of $71.62. The company has a market capitalization of $79.14 billion, a PE ratio of 20.5344 and a beta of 1.29. The firm’s 50 day moving average price is $54.30 and its 200 day moving average price is $55.59.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. Analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
Several research firms have recently weighed in on QCOM. UBS AG restated a “neutral” rating and set a $58.00 price objective on shares of QUALCOMM in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Northland Securities lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $75.00 to $62.50 in a research report on Wednesday, June 28th. BMO Capital Markets restated a “market perform” rating and set a $54.00 price objective on shares of QUALCOMM in a research report on Monday, July 10th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $56.00 price objective on shares of QUALCOMM in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $63.96.
In related news, President Derek K. Aberle sold 22,251 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the sale, the president now owns 28,959 shares in the company, valued at approximately $1,667,748.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 5,509 shares of the 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. In the last 90 days, insiders sold 52,101 shares of company stock worth $2,955,612. 0.24% of the stock is owned by company 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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