Accurate Investment Solutions Inc. Buys 51 Shares of QUALCOMM Incorporated (QCOM)
Accurate Investment Solutions Inc. increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,401 shares of the wireless technology company’s stock after buying an additional 51 shares during the period. Accurate Investment Solutions Inc.’s holdings in QUALCOMM were worth $298,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Baupost Group LLC MA bought a new stake in shares of QUALCOMM during the first quarter valued at about $299,085,000. Nordea Investment Management AB boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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. boosted its stake in shares of 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. Institutional investors and hedge funds own 76.59% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.029% during trading on Monday, hitting $51.935. 2,382,490 shares of the stock were exchanged. The stock has a 50 day moving average of $54.04 and a 200-day moving average of $55.54. The stock has a market cap of $76.66 billion, a P/E ratio of 19.891 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 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. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same period last year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities analysts expect 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. Investors of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is presently 87.36%.
QCOM has been the subject of several recent research reports. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research note on Monday, May 1st. J P Morgan Chase & Co cut their price target on QUALCOMM from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, May 2nd. Standpoint Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Friday, April 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 price target on shares of QUALCOMM in a research note on Tuesday, May 2nd. Finally, Canaccord Genuity cut their price target on QUALCOMM from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock 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 transaction of $1,281,435.09. Following the completion of the sale, the president now directly owns 28,959 shares of the company’s stock, valued at $1,667,748.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 470 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the sale, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at $174,646.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,592 shares of company stock valued at $2,629,975. Corporate insiders own 0.24% 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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