Beck Mack & Oliver LLC Sells 20,715 Shares of QUALCOMM, Inc. (QCOM)
Beck Mack & Oliver LLC reduced its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,016,551 shares of the wireless technology company’s stock after selling 20,715 shares during the quarter. QUALCOMM makes up about 2.1% of Beck Mack & Oliver LLC’s holdings, making the stock its 18th largest holding. Beck Mack & Oliver LLC’s holdings in QUALCOMM were worth $65,080,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in shares of QUALCOMM during the 2nd quarter worth $114,000. Cerebellum GP LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth $126,000. Krilogy Financial LLC grew its stake in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of QUALCOMM during the 2nd quarter worth $141,000. Finally, Jacobi Capital Management LLC grew its stake in shares of QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares during the period. 77.14% of the stock is currently owned by institutional investors.
QCOM has been the topic of a number of recent analyst reports. Canaccord Genuity upped their price target on shares of QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Royal Bank of Canada upped their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Vetr cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price target on the stock. in a research note on Thursday, November 23rd. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Nomura raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $75.00 in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $68.25.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. equities research analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a yield of 3.62%. QUALCOMM’s dividend payout ratio (DPR) is -93.06%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the transaction, the executive vice president now directly owns 10,403 shares in the company, valued at approximately $709,484.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction 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 $2,810,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,812 shares of company stock worth $2,996,776. 0.17% of the stock is owned by insiders.
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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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