QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Denver Investment Advisors LLC
Denver Investment Advisors LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 206,428 shares of the wireless technology company’s stock after selling 15,507 shares during the period. Denver Investment Advisors LLC’s holdings in QUALCOMM were worth $11,837,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. American National Bank boosted its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares during the last quarter. Welch Group LLC boosted its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares during the last quarter. Advantage Investment Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $200,000. Glassman Wealth Services boosted its position in shares of QUALCOMM by 9.1% in the fourth quarter. Glassman Wealth Services now owns 3,094 shares of the wireless technology company’s stock worth $202,000 after buying an additional 258 shares during the last quarter. Finally, Commonwealth Financial Services LLC boosted its position in shares of QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock worth $205,000 after buying an additional 3,022 shares during the last quarter. Institutional investors own 76.59% of the company’s stock.
QUALCOMM Incorporated (QCOM) traded down 0.67% during trading on Friday, hitting $51.92. 6,696,408 shares of the company’s stock traded hands. The company’s 50 day moving average is $54.04 and its 200-day moving average is $55.54. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. The stock has a market cap of $76.64 billion, a P/E ratio of 19.89 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the company posted $1.16 earnings per share. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. On average, analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.39%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio is currently 87.36%.
Several brokerages recently issued reports on QCOM. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Monday, May 1st. Standpoint Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Friday, April 28th. Vetr lowered QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price for the company. in a research report on Tuesday, May 2nd. Canaccord Genuity lowered their target price on QUALCOMM from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, May 3rd. Finally, Stifel Nicolaus raised their target price on QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $63.96.
In related news, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 470 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the sale, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The disclosure for this sale can be found here. Insiders sold 52,101 shares of company stock worth $2,955,612 in the last 90 days. 0.17% 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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