QUALCOMM, Inc. (QCOM) Position Decreased by Huntington National Bank
Huntington National Bank decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 13.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 132,965 shares of the wireless technology company’s stock after selling 20,041 shares during the quarter. Huntington National Bank’s holdings in QUALCOMM were worth $8,512,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $126,000. Westwood Holdings Group Inc. acquired a new stake in QUALCOMM during the 2nd quarter worth about $114,000. Krilogy Financial LLC boosted its position in 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 acquiring an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new stake in QUALCOMM during the 2nd quarter worth about $141,000. Finally, FNY Partners Fund LP boosted its position in QUALCOMM by 102.0% during the 2nd quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock worth $171,000 after acquiring an additional 1,565 shares during the period. Institutional investors and hedge funds own 78.11% of the company’s stock.
A number of equities research analysts have commented on QCOM shares. Royal Bank of Canada raised their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Vetr lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price objective for the company. in a research report on Thursday, November 23rd. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Nomura upgraded QUALCOMM from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.25.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The business had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the business earned $1.19 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. research analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors 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 dividend yield of 3.82%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is -93.06%.
In related news, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James H. Thompson sold 50,126 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the transaction, the executive vice president now directly owns 136,482 shares in the company, valued at $8,551,962.12. The disclosure for this sale can be found here. Insiders sold a total of 95,938 shares of company stock worth $6,137,671 over the last three months. 0.24% of the stock is owned by company 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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