Cantor Fitzgerald Investment Adviser L.P. Buys Shares of 6,821 QUALCOMM Incorporated (QCOM)
Cantor Fitzgerald Investment Adviser L.P. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,821 shares of the wireless technology company’s stock, valued at approximately $377,000.
Other hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC grew its position in 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 in the last quarter. Alpha Windward LLC grew its position in 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 in the last quarter. Welch Group LLC grew its position in 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 in the last quarter. American National Bank grew its position in 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 in the last quarter. Finally, Ronald Blue & Co. LLC grew its position in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after acquiring an additional 18 shares in the last quarter. 76.96% of the stock is owned by institutional investors.
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In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of the business’s 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 completion of the transaction, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was 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. In the last three months, insiders have sold 28,914 shares of company stock valued at $1,581,095. Insiders own 0.17% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) opened at 51.84 on Friday. The company has a market cap of $76.52 billion, a price-to-earnings ratio of 19.85 and a beta of 1.29. The firm’s 50-day moving average is $52.06 and its 200-day moving average is $54.99. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm 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 business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Monday, August 28th. QUALCOMM’s payout ratio is 87.36%.
QCOM has been the subject of a number of analyst reports. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $75.00 to $62.50 in a research note on Wednesday, June 28th. BMO Capital Markets restated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Rosenblatt Securities restated a “neutral” rating and issued a $56.00 price objective on shares of QUALCOMM in a research note on Friday, June 30th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.60.
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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