QUALCOMM Incorporated (QCOM) Shares Bought by Connecticut Wealth Management LLC
Connecticut Wealth Management LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,933 shares of the wireless technology company’s stock after buying an additional 64 shares during the quarter. Connecticut Wealth Management LLC’s holdings in QUALCOMM were worth $664,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in QUALCOMM by 40.5% in the second quarter. Canada Pension Plan Investment Board now owns 2,129,405 shares of the wireless technology company’s stock valued at $117,586,000 after buying an additional 614,313 shares during the last quarter. Pointe Capital Management LLC acquired a new position in QUALCOMM in the second quarter valued at approximately $498,000. Mengis Capital Management Inc. boosted its stake in QUALCOMM by 23.2% in the second quarter. Mengis Capital Management Inc. now owns 84,754 shares of the wireless technology company’s stock valued at $4,680,000 after acquiring an additional 15,982 shares during the period. Summit Financial Group Inc. acquired a new position in QUALCOMM in the second quarter valued at approximately $224,000. Finally, Rockland Trust Co. boosted its stake in QUALCOMM by 3.7% in the second quarter. Rockland Trust Co. now owns 31,839 shares of the wireless technology company’s stock valued at $1,758,000 after acquiring an additional 1,130 shares during the period. 76.92% of the stock is owned by hedge funds and other institutional investors.
QCOM has been the subject of a number of research reports. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub downgraded QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Northland Securities downgraded QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $75.00 to $62.50 in a research note on Wednesday, June 28th. Finally, Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 target price for the company in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $63.60.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 5,810 shares of company stock worth $301,596 over the last three months. 0.24% of the stock is owned by insiders.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.49 on Monday. The stock’s 50 day moving average price is $51.68 and its 200 day moving average price is $54.47. The firm has a market capitalization of $77.48 billion, a P/E ratio of 20.10 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $48.92 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion during 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 company’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. On average, analysts forecast 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. Stockholders of record on Wednesday, August 30th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.34%. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
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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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