Capital Guardian Trust Co. Sells 566,284 Shares of QUALCOMM Incorporated (QCOM)
Capital Guardian Trust Co. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 85.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 93,470 shares of the wireless technology company’s stock after selling 566,284 shares during the quarter. Capital Guardian Trust Co.’s holdings in QUALCOMM were worth $5,161,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Ronald Blue & Co. LLC lifted its position in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after buying an additional 18 shares during the last quarter. Hollencrest Securities LLC lifted its position in shares of QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after buying an additional 40 shares during the last quarter. Farmers Trust Co. lifted its position in shares of QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock worth $288,000 after buying an additional 48 shares during the last quarter. FCA Corp TX lifted its position in shares of QUALCOMM by 1.0% in the 2nd quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock worth $269,000 after buying an additional 49 shares during the last quarter. Finally, Meridian Investment Counsel Inc. lifted its position in shares of QUALCOMM by 0.3% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock worth $1,010,000 after buying an additional 50 shares during the last quarter. Institutional investors own 76.66% of the company’s stock.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were 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 three months, insiders have sold 29,427 shares of company stock worth $1,827,995. 0.17% of the stock is owned by corporate insiders.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. QUALCOMM’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. equities research analysts forecast that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.48%. QUALCOMM’s payout ratio is 138.18%.
QCOM has been the topic of a number of recent research reports. Canaccord Genuity raised their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, UBS dropped their price objective on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.02.
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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