QUALCOMM Incorporated (QCOM) Stake Lessened by Garcia Hamilton & Associates LP DE
Garcia Hamilton & Associates LP DE lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 39.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,509 shares of the wireless technology company’s stock after selling 5,512 shares during the quarter. Garcia Hamilton & Associates LP DE’s holdings in QUALCOMM were worth $470,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. United Asset Strategies Inc. acquired a new position in QUALCOMM in the 2nd quarter valued at approximately $5,249,000. Stephens Inc. AR increased its stake in QUALCOMM by 10.8% in the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after buying an additional 11,232 shares during the period. Stifel Financial Corp increased its stake in QUALCOMM by 47.4% in the 1st quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock valued at $168,002,000 after buying an additional 943,026 shares during the period. Private Asset Management Inc. increased its stake in QUALCOMM by 0.5% in the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock valued at $40,696,000 after buying an additional 4,028 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in QUALCOMM by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock valued at $257,798,000 after buying an additional 160,226 shares during the period. Institutional investors and hedge funds own 76.66% of the company’s stock.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. BidaskClub lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Stifel Nicolaus lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and upped their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Vetr lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price objective on the stock. in a research note on Thursday, November 23rd. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.02.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. equities research analysts predict that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
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 value of $59,886.48. Following the completion of the sale, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders have sold a total of 29,427 shares of company stock valued at $1,827,995 over the last ninety days. 0.17% of the stock is owned by insiders.
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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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