Triangle Securities Wealth Management Purchases 675 Shares of QUALCOMM Incorporated (QCOM)
Triangle Securities Wealth Management increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,562 shares of the wireless technology company’s stock after acquiring an additional 675 shares during the period. Triangle Securities Wealth Management’s holdings in QUALCOMM were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. WealthTrust Axiom LLC raised its holdings in shares of QUALCOMM by 0.3% during the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock worth $332,000 after acquiring an additional 15 shares in the last quarter. Excalibur Management Corp raised its holdings in shares of QUALCOMM by 0.7% during the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock worth $251,000 after acquiring an additional 31 shares in the last quarter. FCA Corp TX raised its holdings in shares of QUALCOMM by 0.9% during the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock worth $276,000 after acquiring an additional 43 shares in the last quarter. Welch Group LLC raised its holdings in shares of QUALCOMM by 2.3% during the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after acquiring an additional 69 shares in the last quarter. Finally, Community Bank N.A. raised its holdings in shares of QUALCOMM by 0.8% during the first quarter. Community Bank N.A. now owns 8,818 shares of the wireless technology company’s stock worth $506,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.
QUALCOMM Incorporated (QCOM) traded up 0.132% on Wednesday, hitting $50.967. 3,223,655 shares of the stock were exchanged. The company has a market capitalization of $75.23 billion, a PE ratio of 19.520 and a beta of 1.29. The company has a 50-day moving average price of $52.23 and a 200 day moving average price of $55.16. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue was down 11.1% compared to the same quarter last year. Analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. 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 4.48%. QUALCOMM’s payout ratio is presently 87.36%.
Several analysts recently issued reports on QCOM shares. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 price objective for the company in a report on Wednesday, June 7th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. BMO Capital Markets reiterated a “market perform” rating and set a $54.00 price objective on shares of QUALCOMM in a report on Monday, July 10th. Finally, Deutsche Bank AG started coverage on QUALCOMM in a report on Monday, June 19th. They set a “hold” rating and a $62.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM presently has an average rating of “Hold” and a consensus price target of $63.96.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,995 shares of company stock worth $1,587,390. Company insiders own 0.24% of the company’s stock.
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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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