Narus Financial Partners LLC Grows Stake in QUALCOMM Incorporated (QCOM)
Narus Financial Partners LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,365 shares of the wireless technology company’s stock after acquiring an additional 89 shares during the quarter. Narus Financial Partners LLC’s holdings in QUALCOMM were worth $241,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Baupost Group LLC MA purchased a new stake in QUALCOMM during the first quarter worth $299,085,000. Nordea Investment Management AB boosted its holdings in QUALCOMM by 589.4% during the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after buying an additional 5,054,642 shares in the last quarter. Schroder Investment Management Group boosted its holdings in QUALCOMM by 30.8% during the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after buying an additional 1,544,792 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in QUALCOMM by 73.7% during the first quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock worth $180,788,000 after buying an additional 1,337,883 shares in the last quarter. Finally, Wedgewood Partners Inc. boosted its holdings in QUALCOMM by 39.7% during the first quarter. Wedgewood Partners Inc. now owns 4,081,972 shares of the wireless technology company’s stock worth $234,059,000 after buying an additional 1,160,993 shares in the last quarter. Hedge funds and other institutional investors own 76.96% of the company’s stock.
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In other news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold 28,995 shares of company stock valued at $1,587,390 in the last ninety days. 0.24% of the stock is owned by corporate insiders.
Shares of QUALCOMM Incorporated (QCOM) traded up 0.25% on Monday, reaching $52.32. 2,609,889 shares of the company were exchanged. The company has a 50-day moving average price of $52.11 and a 200 day moving average price of $55.07. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The stock has a market capitalization of $77.23 billion, a PE ratio of 20.04 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the company earned $1.16 earnings per share. QUALCOMM’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.37%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
A number of analysts recently issued reports on the stock. Vetr downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price target on the stock. in a report on Monday, May 22nd. Stifel Nicolaus increased their price target on shares of QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 26th. J P Morgan Chase & Co raised shares of QUALCOMM from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $50.00 to $68.00 in a report on Monday, May 22nd. BMO Capital Markets reissued a “market perform” rating on shares of QUALCOMM in a report on Sunday, May 21st. Finally, Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $63.96.
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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