QUALCOMM Incorporated (QCOM) Position Held by New England Asset Management Inc.
New England Asset Management Inc. continued to hold its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,140 shares of the wireless technology company’s stock at the close of the second quarter. New England Asset Management Inc.’s holdings in QUALCOMM were worth $118,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Carret Asset Management LLC lifted its holdings in QUALCOMM by 10.4% in the 2nd quarter. Carret Asset Management LLC now owns 63,394 shares of the wireless technology company’s stock worth $3,501,000 after purchasing an additional 5,997 shares in the last quarter. Green Square Capital LLC increased its holdings in shares of QUALCOMM by 9.5% in the second quarter. Green Square Capital LLC now owns 111,821 shares of the wireless technology company’s stock valued at $6,175,000 after purchasing an additional 9,699 shares during the period. Maverick Capital Ltd. acquired a new position in shares of QUALCOMM in the second quarter valued at about $210,548,000. Lenox Wealth Management Inc. increased its holdings in shares of QUALCOMM by 57.8% in the second quarter. Lenox Wealth Management Inc. now owns 12,751 shares of the wireless technology company’s stock valued at $704,000 after purchasing an additional 4,672 shares during the period. Finally, ETF Managers Group LLC acquired a new position in shares of QUALCOMM in the second quarter valued at about $299,000. 76.66% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on the company. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Monday, November 27th. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and increased their price objective for the company from $65.00 to $75.00 in a report on Tuesday, November 28th. Sanford C. Bernstein reissued a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. Royal Bank Of Canada increased their price objective on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. Finally, ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.02.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.28 earnings per share. analysts predict that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.52%. QUALCOMM’s dividend payout ratio is currently 138.18%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was 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 in the company, valued at $824,638.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 29,427 shares of company stock worth $1,827,995 in the last quarter. 0.24% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM).
Receive News & Stock Ratings for QUALCOMM Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM Incorporated and related stocks with our FREE daily email newsletter.