QUALCOMM Incorporated (QCOM) Stake Reduced by Carl Domino Inc
Carl Domino Inc decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,715 shares of the wireless technology company’s stock after selling 3,160 shares during the period. Carl Domino Inc’s holdings in QUALCOMM were worth $1,144,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its stake in shares of QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares in the last quarter. Alpha Windward LLC raised its stake in shares of QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares in the last quarter. American National Bank raised its stake 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 valued at $162,000 after buying an additional 822 shares in the last quarter. Welch Group LLC raised its stake 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 valued at $174,000 after buying an additional 69 shares in the last quarter. Finally, Commonwealth Financial Services LLC raised its stake 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 valued at $205,000 after buying an additional 3,022 shares in the last quarter. Institutional investors own 76.59% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.88% during mid-day trading on Friday, hitting $52.03. The stock had a trading volume of 8,684,669 shares. QUALCOMM Incorporated has a 12-month low of $51.05 and a 12-month high of $71.62. The stock has a market capitalization of $76.80 billion, a price-to-earnings ratio of 19.93 and a beta of 1.29. The stock’s 50-day moving average price is $53.67 and its 200-day moving average price is $55.51.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the firm earned $1.16 earnings per share. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is presently 87.36%.
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QCOM has been the subject of several research analyst reports. 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. 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 note on Wednesday, May 3rd. 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 note on Tuesday, May 2nd. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research note on Monday, May 1st. Finally, Stifel Nicolaus increased their target price on QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 26th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 22,251 shares of QUALCOMM stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Insiders have sold 51,332 shares of company stock valued at $2,875,886 in the last three months. 0.17% of the stock is 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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