QUALCOMM Incorporated (QCOM) Shares Bought by Kornitzer Capital Management Inc. KS
Kornitzer Capital Management Inc. KS lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679,055 shares of the wireless technology company’s stock after acquiring an additional 25,595 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in QUALCOMM were worth $37,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of QCOM. Jacobi Capital Management LLC boosted 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 worth $145,000 after acquiring an additional 250 shares during the last quarter. Alpha Windward LLC boosted 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 worth $148,000 after acquiring an additional 153 shares during the last quarter. Welch Group LLC boosted 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 worth $174,000 after acquiring an additional 69 shares during the last quarter. American National Bank boosted its stake in shares of QUALCOMM by 28.7% in the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 812 shares during the last quarter. Finally, Gilbert & Cook Inc. acquired a new stake in shares of QUALCOMM in the second quarter worth approximately $217,000. 76.96% of the stock is currently owned by hedge funds and other institutional investors.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 51.98 on Thursday. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62. The firm has a market capitalization of $76.73 billion, a PE ratio of 19.91 and a beta of 1.29. The stock’s 50 day moving average price is $52.06 and its 200 day moving average price is $54.99.
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, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s revenue was down 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. Analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.39%. QUALCOMM’s dividend payout ratio is presently 87.36%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was 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 can be accessed through this link. Also, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction dated 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 sale, 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 have sold 28,995 shares of company stock valued at $1,587,390 over the last 90 days. Insiders own 0.24% of the company’s stock.
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A number of analysts have recently issued reports on QCOM shares. Stifel Nicolaus lifted their price target on QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 26th. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $60.62 price target on the stock in a research note on Monday, May 29th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $67.00 price target (up from $61.00) on shares of QUALCOMM in a research note on Sunday, June 18th. Deutsche Bank AG started coverage on QUALCOMM in a research note on Monday, June 19th. They issued a “hold” rating and a $62.00 price target on the stock. Finally, Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently 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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