QUALCOMM Incorporated (QCOM) Stake Lifted by Arvest Bank Trust Division
Arvest Bank Trust Division lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,297 shares of the wireless technology company’s stock after acquiring an additional 3,059 shares during the period. Arvest Bank Trust Division’s holdings in QUALCOMM were worth $12,717,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in QCOM. Baupost Group LLC MA acquired a new stake in QUALCOMM during the 1st quarter worth approximately $299,085,000. Nordea Investment Management AB increased its position in QUALCOMM by 589.4% during the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after purchasing an additional 5,054,642 shares in the last quarter. Schroder Investment Management Group increased its position in QUALCOMM by 30.8% during the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after purchasing an additional 1,544,792 shares in the last quarter. Pictet Asset Management Ltd. increased its position in QUALCOMM by 73.7% during the 1st quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock worth $180,788,000 after purchasing an additional 1,337,883 shares in the last quarter. Finally, Wedgewood Partners Inc. increased its position in QUALCOMM by 39.7% during the 1st quarter. Wedgewood Partners Inc. now owns 4,081,972 shares of the wireless technology company’s stock worth $234,059,000 after purchasing an additional 1,160,993 shares in the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares in the company, valued at $324,249.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders sold 28,995 shares of company stock worth $1,587,390 over the last quarter. Company insiders own 0.17% of the company’s stock.
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QUALCOMM Incorporated (NASDAQ QCOM) traded up 0.12% during midday trading on Friday, reaching $52.09. The company’s stock had a trading volume of 4,105,088 shares. The firm has a market capitalization of $76.89 billion, a PE ratio of 19.95 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The firm has a 50 day moving average price of $52.06 and a 200 day moving average price of $54.99.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. On average, analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 target price for the company in a research report on Wednesday, June 7th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Deutsche Bank AG assumed coverage on shares of QUALCOMM in a research report on Monday, June 19th. They set a “hold” rating and a $62.00 target price for the company. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and set a $67.00 target price (up previously from $61.00) on shares of QUALCOMM in a research report on Sunday, June 18th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. QUALCOMM has an average rating of “Hold” and a consensus 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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