Midas Management Corp maintained its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,000 shares of the wireless technology company’s stock at the close of the 2nd quarter. Midas Management Corp’s holdings in QUALCOMM were worth $1,104,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of QCOM. Retirement Systems of Alabama boosted its holdings in shares of QUALCOMM by 1.3% during the first quarter. Retirement Systems of Alabama now owns 1,088,977 shares of the wireless technology company’s stock worth $62,442,000 after purchasing an additional 13,971 shares during the period. Navellier & Associates Inc boosted its holdings in shares of QUALCOMM by 92.4% during the first quarter. Navellier & Associates Inc now owns 63,951 shares of the wireless technology company’s stock worth $3,667,000 after purchasing an additional 30,717 shares during the period. Covenant Asset Management LLC boosted its holdings in shares of QUALCOMM by 83.0% during the first quarter. Covenant Asset Management LLC now owns 19,097 shares of the wireless technology company’s stock worth $1,095,000 after purchasing an additional 8,663 shares during the period. Douglas Lane & Associates LLC boosted its holdings in shares of QUALCOMM by 4.1% during the first quarter. Douglas Lane & Associates LLC now owns 1,212,343 shares of the wireless technology company’s stock worth $69,516,000 after purchasing an additional 47,358 shares during the period. Finally, Cape Cod Five Cents Savings Bank acquired a new stake in shares of QUALCOMM during the first quarter worth approximately $889,000. Institutional investors and hedge funds own 76.96% of the company’s stock.
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Several analysts recently commented on QCOM shares. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $75.00 to $62.50 in a report on Wednesday, June 28th. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Finally, Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target for the company in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $63.96.
In other news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,995 shares of company stock worth $1,587,390. 0.24% of the stock is currently owned by insiders.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) opened at 52.30 on Wednesday. The firm has a market cap of $77.20 billion, a P/E ratio of 20.03 and a beta of 1.29. The stock has a 50 day moving average of $52.06 and a 200 day moving average of $54.99. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 EPS. Analysts anticipate that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
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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