Nicolet Bankshares Inc. Sells 1,358 Shares of QUALCOMM Incorporated (QCOM)
Nicolet Bankshares Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,560 shares of the wireless technology company’s stock after selling 1,358 shares during the period. Nicolet Bankshares Inc.’s holdings in QUALCOMM were worth $694,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of QCOM. WealthTrust Axiom LLC lifted its holdings in QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after acquiring an additional 15 shares during the last quarter. Excalibur Management Corp lifted its holdings in QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after acquiring an additional 31 shares during the last quarter. Hollencrest Securities LLC lifted its holdings in QUALCOMM by 0.9% in the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after acquiring an additional 40 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in QUALCOMM by 0.4% in the second quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after acquiring an additional 42 shares during the last quarter. Finally, FCA Corp TX lifted its holdings in QUALCOMM by 0.9% in the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
A number of research firms recently commented on QCOM. Northland Securities cut QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday. BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a report on Monday, July 10th. Rosenblatt Securities reiterated a “neutral” rating and issued a $56.00 price objective on shares of QUALCOMM in a report on Friday, June 30th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, eighteen 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 a consensus target price of $63.96.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.03 on Friday. The firm has a 50-day moving average of $52.06 and a 200 day moving average of $54.99. The firm has a market cap of $76.80 billion, a P/E ratio of 19.93 and a beta of 1.29. 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 analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. On average, analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated 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 owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders have sold a total of 28,995 shares of company stock valued at $1,587,390 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.
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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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