Perkins Coie Trust Co raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,002 shares of the wireless technology company’s stock after buying an additional 1,460 shares during the period. Perkins Coie Trust Co’s holdings in QUALCOMM were worth $1,988,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of QCOM. WealthTrust Axiom LLC lifted its position in shares of QUALCOMM by 0.3% in the 1st quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after acquiring an additional 15 shares in the last quarter. Excalibur Management Corp lifted its position in shares of QUALCOMM by 0.7% in the 1st quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after acquiring an additional 31 shares in the last quarter. FCA Corp TX lifted its position in shares of QUALCOMM by 0.9% in the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after acquiring an additional 43 shares in the last quarter. Farmers Trust Co. lifted its position in shares of QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after acquiring an additional 48 shares in the last quarter. Finally, Welch Group LLC lifted its position in shares of QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 76.96% of the company’s stock.
In related news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares in the company, valued at $324,249.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Insiders sold 28,995 shares of company stock worth $1,587,390 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.
QUALCOMM Incorporated (QCOM) traded down 0.354% during mid-day trading on Wednesday, reaching $52.115. 2,755,993 shares of the company’s stock traded hands. The firm has a market cap of $76.93 billion, a PE ratio of 19.960 and a beta of 1.29. The firm has a 50 day moving average of $52.06 and a 200 day moving average of $54.99. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the prior year, the company posted $1.16 earnings per share. QUALCOMM’s revenue was down 11.1% compared to the same quarter last year. Analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.36%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
QCOM has been the subject of several research analyst reports. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 price target for the company in a research report on Wednesday, June 7th. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. BMO Capital Markets restated a “market perform” rating and issued a $54.00 price target on shares of QUALCOMM in a research report on Monday, July 10th. Finally, Northland Securities upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target for the company in a research report on Friday, September 15th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $63.96.
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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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