Hussman Strategic Advisors Inc. Continues to Hold Holdings in QUALCOMM Incorporated (QCOM)
Hussman Strategic Advisors Inc. maintained its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,000 shares of the wireless technology company’s stock at the end of the second quarter. QUALCOMM accounts for about 1.2% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 22nd biggest holding. Hussman Strategic Advisors Inc.’s holdings in QUALCOMM were worth $5,632,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Stifel Financial Corp raised its position in shares of QUALCOMM by 47.4% during the 1st quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock worth $168,002,000 after purchasing an additional 943,026 shares during the last quarter. Private Asset Management Inc. raised its position in shares of QUALCOMM by 0.5% during the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after purchasing an additional 4,028 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of QUALCOMM by 18.1% during the 1st quarter. Pacer Advisors Inc. now owns 67,369 shares of the wireless technology company’s stock worth $3,863,000 after purchasing an additional 10,336 shares during the last quarter. First Foundation Advisors raised its position in shares of QUALCOMM by 0.6% during the 1st quarter. First Foundation Advisors now owns 269,214 shares of the wireless technology company’s stock worth $15,437,000 after purchasing an additional 1,503 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of QUALCOMM by 27.5% during the 1st quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock worth $300,070,000 after purchasing an additional 1,128,700 shares during the last quarter. Hedge funds and other institutional investors own 76.97% of the company’s stock.
In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction on 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 directly owns 5,855 shares in the company, valued at approximately $324,249.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. 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 90 days. Company insiders own 0.17% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) opened at 52.35 on Friday. The firm has a market cap of $77.27 billion, a price-to-earnings ratio of 20.05 and a beta of 1.28. The stock has a 50 day moving average of $51.68 and a 200-day moving average of $54.51. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Equities research analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share 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. The ex-dividend date of this dividend was Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.36%. QUALCOMM’s dividend payout ratio is 87.36%.
Several research analysts recently issued reports on QCOM shares. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday. Northland Securities downgraded QUALCOMM from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $75.00 to $62.50 in a research report on Wednesday, June 28th. Finally, Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective for the company in a research report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $63.60.
QUALCOMM Company Profile
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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