Rockland Trust Co. Has $1.76 Million Position in QUALCOMM Incorporated (QCOM)
Rockland Trust Co. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 31,839 shares of the wireless technology company’s stock after acquiring an additional 1,130 shares during the quarter. Rockland Trust Co.’s holdings in QUALCOMM were worth $1,758,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in QCOM. Jacobi Capital Management LLC boosted its position in QUALCOMM by 10.8% during the 1st 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 during the period. Alpha Windward LLC boosted its position in QUALCOMM by 6.1% during the 2nd 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 during the period. Welch Group LLC boosted its position in QUALCOMM by 2.3% during the 1st 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 during the period. American National Bank boosted its position in QUALCOMM by 28.7% during the 2nd 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 during the period. Finally, Ronald Blue & Co. LLC boosted its position in QUALCOMM by 0.5% during the 2nd 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 during the period. Institutional investors own 76.97% of the company’s stock.
QUALCOMM Incorporated (QCOM) opened at 52.49 on Friday. The company’s 50-day moving average price is $51.68 and its 200 day moving average price is $54.47. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62. The firm has a market capitalization of $77.48 billion, a price-to-earnings ratio of 20.10 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 the consensus estimate of $5.25 billion. During the same quarter last year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The company also recently declared 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 dividend yield of 4.34%. The ex-dividend date was Monday, August 28th. QUALCOMM’s dividend payout ratio is 87.36%.
QCOM has been the subject of a number of analyst reports. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $67.00 price target (up previously from $61.00) on shares of QUALCOMM in a research report on Sunday, June 18th. Deutsche Bank AG initiated coverage on QUALCOMM in a research report on Monday, June 19th. They set a “hold” rating and a $62.00 price target for the company. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. Finally, Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target 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 assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $63.60.
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In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction dated 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 completion of the sale, 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 in the last three months. Company insiders own 0.17% of the company’s stock.
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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