Investment Management of Virginia LLC Has $5.09 Million Holdings in QUALCOMM Incorporated (QCOM)
Investment Management of Virginia LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,092 shares of the wireless technology company’s stock after purchasing an additional 385 shares during the period. QUALCOMM comprises about 1.2% of Investment Management of Virginia LLC’s portfolio, making the stock its 21st largest position. Investment Management of Virginia LLC’s holdings in QUALCOMM were worth $5,085,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp raised its holdings in QUALCOMM by 47.4% in the first 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 period. Private Asset Management Inc. raised its holdings in shares of QUALCOMM by 0.5% during the second quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after acquiring an additional 4,028 shares during the period. Pacer Advisors Inc. raised its holdings in shares of QUALCOMM by 18.1% during the first quarter. Pacer Advisors Inc. now owns 67,369 shares of the wireless technology company’s stock worth $3,863,000 after acquiring an additional 10,336 shares during the period. First Foundation Advisors raised its holdings in shares of QUALCOMM by 0.6% during the first quarter. First Foundation Advisors now owns 269,214 shares of the wireless technology company’s stock worth $15,437,000 after acquiring an additional 1,503 shares during the period. Finally, Swiss National Bank raised its holdings in shares of QUALCOMM by 27.5% during the first quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock worth $300,070,000 after acquiring an additional 1,128,700 shares during the period. Institutional investors own 76.93% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 52.02 on Friday. The stock has a 50 day moving average of $51.88 and a 200 day moving average of $54.17. QUALCOMM Incorporated has a 12 month low of $48.92 and a 12 month high of $71.62. The firm has a market capitalization of $76.78 billion, a PE ratio of 19.92 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same period last year, the business earned $1.16 earnings per share. QUALCOMM’s revenue was down 11.1% compared to the same quarter last year. On average, equities analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.38%. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,810 shares of company stock valued at $301,596 over the last 90 days. 0.17% of the stock is owned by company insiders.
A number of brokerages recently commented on QCOM. Northland Securities lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $75.00 to $62.50 in a report on Wednesday, June 28th. BMO Capital Markets restated a “market perform” rating and set a $54.00 price objective on shares of QUALCOMM in a report on Monday, July 10th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Rosenblatt Securities restated a “neutral” rating and set a $56.00 price objective on shares of QUALCOMM in a report on Friday, June 30th. Finally, Wells Fargo & Co restated an “outperform” rating on shares of QUALCOMM in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $63.80.
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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