QUALCOMM, Inc. (QCOM) Position Lowered by Lowe Brockenbrough & Co. Inc.
Lowe Brockenbrough & Co. Inc. reduced its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,973 shares of the wireless technology company’s stock after selling 1,200 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in QUALCOMM were worth $6,323,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of QCOM. Westwood Holdings Group Inc. acquired a new position in QUALCOMM in the second quarter valued at approximately $114,000. Krilogy Financial LLC lifted its stake in QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new position in QUALCOMM in the second quarter valued at approximately $141,000. Jacobi Capital Management LLC lifted its stake in QUALCOMM by 7.8% in the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after buying an additional 200 shares during the period. Finally, Penserra Capital Management LLC lifted its stake in QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after buying an additional 842 shares during the period. 76.23% of the stock is currently owned by institutional investors.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the transaction, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Insiders sold a total of 72,989 shares of company stock valued at $4,678,794 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last announced 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 firm had revenue of $5.96 billion during 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%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. analysts forecast that QUALCOMM, Inc. will post 3.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.49%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
Several equities analysts have issued reports on the company. Vetr raised QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price target on the stock in a research note on Tuesday, January 2nd. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and upped their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Finally, Royal Bank of Canada upped their target price on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Hold” and an average target price of $66.06.
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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