QUALCOMM Incorporated (QCOM) Shares Bought by Columbia Partners L L C Investment Management
Columbia Partners L L C Investment Management raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,297 shares of the wireless technology company’s stock after buying an additional 4,972 shares during the period. QUALCOMM accounts for 0.9% of Columbia Partners L L C Investment Management’s holdings, making the stock its 22nd largest position. Columbia Partners L L C Investment Management’s holdings in QUALCOMM were worth $6,783,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Doyle Wealth Management acquired a new stake in shares of QUALCOMM during the first quarter worth about $17,957,000. Berkshire Asset Management LLC PA increased its stake in QUALCOMM by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 168,062 shares of the wireless technology company’s stock worth $9,637,000 after buying an additional 4,356 shares during the last quarter. P.R. Herzig & Co. Inc. increased its stake in QUALCOMM by 6.2% in the first quarter. P.R. Herzig & Co. Inc. now owns 35,925 shares of the wireless technology company’s stock worth $2,060,000 after buying an additional 2,100 shares during the last quarter. Cardinal Capital Management Inc. increased its stake in QUALCOMM by 543.8% in the first quarter. Cardinal Capital Management Inc. now owns 10,300 shares of the wireless technology company’s stock worth $591,000 after buying an additional 8,700 shares during the last quarter. Finally, First Foundation Advisors increased its stake in QUALCOMM by 0.6% in the first quarter. First Foundation Advisors now owns 269,214 shares of the wireless technology company’s stock worth $15,437,000 after buying an additional 1,503 shares during the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.11% during midday trading on Friday, hitting $52.21. The stock had a trading volume of 1,988,261 shares. The company’s 50 day moving average price is $54.13 and its 200-day moving average price is $55.55. The stock has a market cap of $77.07 billion, a PE ratio of 20.00 and a beta of 1.29. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. QUALCOMM’s revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. Analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.36%. QUALCOMM’s dividend payout ratio is presently 87.36%.
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QCOM has been the subject of a number of recent research reports. Canaccord Genuity dropped their target price on QUALCOMM from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, April 20th. BMO Capital Markets restated a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a research report on Saturday, April 22nd. Pacific Crest restated an “overweight” rating and issued a $77.00 target price (down previously from $81.00) on shares of QUALCOMM in a research report on Saturday, April 22nd. Mizuho restated a “buy” rating and issued a $68.00 target price (down previously from $75.00) on shares of QUALCOMM in a research report on Saturday, April 22nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $60.00 target price on shares of QUALCOMM in a research report on Saturday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and an average price target of $63.96.
In other news, President Derek K. Aberle sold 22,251 shares of QUALCOMM 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 transaction, the president now directly owns 28,959 shares in the company, valued at approximately $1,667,748.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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. Insiders sold a total of 52,101 shares of company stock worth $2,955,612 over the last quarter. Company insiders own 0.17% of the company’s stock.
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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