WBI Investments Inc. Invests $1.95 Million in QUALCOMM Incorporated (QCOM) Stock
WBI Investments Inc. bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 35,275 shares of the wireless technology company’s stock, valued at approximately $1,948,000.
A number of other large investors have also added to or reduced their stakes in QCOM. Jacobi Capital Management LLC grew its stake 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 valued at $145,000 after acquiring an additional 250 shares in the last quarter. Alpha Windward LLC grew its stake in QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after acquiring an additional 153 shares in the last quarter. Penserra Capital Management LLC grew its stake in QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares in the last quarter. FNY Partners Fund LP grew its stake in QUALCOMM by 102.0% during the 2nd quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock valued at $171,000 after acquiring an additional 1,565 shares in the last quarter. Finally, American National Bank grew its stake in QUALCOMM by 28.7% during the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after acquiring an additional 812 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.
Shares of QUALCOMM Incorporated (QCOM) opened at $66.00 on Wednesday. The stock has a market capitalization of $98,017.23, a P/E ratio of 17.59, a PEG ratio of 1.86 and a beta of 1.26. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1 year low of $48.92 and a 1 year high of $70.24.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. analysts predict that QUALCOMM Incorporated will post 3.07 EPS for the current 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is presently 138.18%.
Several equities research analysts have recently issued reports on QCOM shares. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a report on Monday. Royal Bank Of Canada lifted their price target on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday. Canaccord Genuity lifted their price target on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price target for the company in a report on Monday. Finally, UBS AG upgraded QUALCOMM from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and an average price target of $65.42.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,837 shares of company stock worth $1,512,049. 0.24% of the stock is currently 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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