QUALCOMM, Inc. (NASDAQ:QCOM) Shares Sold by Federated Investors Inc. PA
Federated Investors Inc. PA lowered its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 10.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 283,927 shares of the wireless technology company’s stock after selling 32,080 shares during the quarter. Federated Investors Inc. PA’s holdings in QUALCOMM were worth $16,192,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. HL Financial Services LLC grew its stake in QUALCOMM by 0.6% during the 1st quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock worth $1,162,000 after purchasing an additional 128 shares in the last quarter. Harrington Investments INC grew its stake in QUALCOMM by 1.1% during the 1st quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after purchasing an additional 150 shares in the last quarter. Evolution Wealth Advisors LLC grew its stake in QUALCOMM by 4.6% during the 1st quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock worth $201,000 after purchasing an additional 154 shares in the last quarter. Atlas Brown Inc. grew its stake in QUALCOMM by 3.5% during the 1st quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock worth $303,000 after purchasing an additional 179 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its stake in QUALCOMM by 18.3% during the 1st quarter. Berman Capital Advisors LLC now owns 1,166 shares of the wireless technology company’s stock worth $65,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 76.38% of the company’s stock.
Several research analysts recently commented on QCOM shares. Morgan Stanley raised QUALCOMM from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $95.00 in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. reissued a “buy” rating and set a $88.00 target price on shares of QUALCOMM in a research note on Tuesday, April 23rd. Cowen boosted their target price on QUALCOMM from $91.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Deutsche Bank reissued a “hold” rating on shares of QUALCOMM in a research note on Monday, April 29th. Finally, Raymond James raised QUALCOMM from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $85.00 to $115.00 in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $79.68.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.83 billion. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. As a group, research analysts forecast that QUALCOMM, Inc. will post 3.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be given a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
In related news, EVP Michelle M. Sterling sold 5,560 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cristiano R. Amon sold 13,466 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the completion of the sale, the president now directly owns 37,614 shares of the company’s stock, valued at $2,256,840. The disclosure for this sale can be found here. Over the last three months, insiders sold 949,832 shares of company stock valued at $37,443,538. Insiders own 0.11% of the company’s stock.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
Further Reading: Cost of Equity For A Business, Investors
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