Founders Financial Securities LLC Lowers Holdings in QUALCOMM Incorporated (QCOM)
Founders Financial Securities LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,694 shares of the wireless technology company’s stock after selling 215 shares during the period. Founders Financial Securities LLC’s holdings in QUALCOMM were worth $922,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its holdings in shares of QUALCOMM by 9.0% in the 1st quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock valued at $541,521,000 after acquiring an additional 783,394 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of QUALCOMM by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,895,262 shares of the wireless technology company’s stock valued at $395,375,000 after acquiring an additional 205,103 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of QUALCOMM by 30.8% in the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after acquiring an additional 1,544,792 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of QUALCOMM by 589.4% in the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after acquiring an additional 5,054,642 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of QUALCOMM by 27.5% in the 1st quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock valued at $300,070,000 after acquiring an additional 1,128,700 shares in the last quarter. Hedge funds and other institutional investors own 76.97% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) opened at 51.96 on Thursday. The firm’s 50 day moving average is $51.71 and its 200-day moving average is $54.53. The company has a market cap of $76.70 billion, a PE ratio of 19.90 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping 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 business 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 company posted $1.16 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. Equities analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Monday, August 28th. QUALCOMM’s dividend payout ratio is presently 87.36%.
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QCOM has been the subject of several analyst reports. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $62.37 price objective for the company. in a report on Wednesday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $70.00 price objective on shares of QUALCOMM in a report on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating and issued a $65.00 price objective on shares of QUALCOMM in a report on Thursday, July 13th. Mizuho restated a “buy” rating and issued a $65.00 price objective on shares of QUALCOMM in a report on Friday, July 21st. Finally, Morgan Stanley raised their price objective on QUALCOMM from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.60.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction on 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 directly owns 5,855 shares in the company, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 28,914 shares of company stock worth $1,581,095 over the last quarter. Corporate insiders own 0.17% of the company’s stock.
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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