Shoker Investment Counsel Inc. Acquires 157 Shares of QUALCOMM Incorporated (QCOM)
Shoker Investment Counsel Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,914 shares of the wireless technology company’s stock after buying an additional 157 shares during the period. Shoker Investment Counsel Inc.’s holdings in QUALCOMM were worth $878,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. United Asset Strategies Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth about $5,249,000. Stifel Financial Corp boosted its stake in shares of QUALCOMM by 47.4% during the first quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock worth $168,002,000 after buying an additional 943,026 shares during the period. Private Asset Management Inc. boosted its stake 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 buying an additional 4,028 shares during the period. Pacer Advisors Inc. boosted its stake 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 buying an additional 10,336 shares during the period. Finally, First Foundation Advisors boosted its stake 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 buying an additional 1,503 shares during the period. Institutional investors and hedge funds own 76.85% of the company’s stock.
Several brokerages have recently weighed in on QCOM. BMO Capital Markets increased their target price on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, November 2nd. Sanford C. Bernstein increased their target price on shares of QUALCOMM from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. UBS AG cut their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a report on Monday. Finally, Edward Jones cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nine have issued a buy rating to the company. QUALCOMM presently has an average rating of “Hold” and an average target price of $63.61.
Shares of QUALCOMM Incorporated (QCOM) opened at $64.10 on Wednesday. QUALCOMM Incorporated has a 1 year low of $48.92 and a 1 year high of $70.24. The stock has a market cap of $94,130.00, a P/E ratio of 16.35, a P/E/G ratio of 2.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the business earned $1.28 earnings per share. QUALCOMM’s revenue was down 3.5% compared to the same quarter last year. analysts forecast that QUALCOMM Incorporated will post 3.3 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.56%. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.
In related 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 transaction of $245,911.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,837 shares of company stock worth $1,512,049. 0.24% of the stock is owned by company insiders.
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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