GHP Investment Advisors Inc. raised its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 85.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,005 shares of the wireless technology company’s stock after acquiring an additional 4,145 shares during the quarter. GHP Investment Advisors Inc.’s holdings in QUALCOMM were worth $649,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Stephens Inc. AR grew its position in QUALCOMM by 13.3% in the second quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock valued at $5,741,000 after acquiring an additional 11,974 shares in the last quarter. Asset Dedication LLC grew its position in QUALCOMM by 11.3% in the second quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock valued at $493,000 after acquiring an additional 894 shares in the last quarter. Pzena Investment Management LLC grew its position in QUALCOMM by 1.5% in the second quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock valued at $39,943,000 after acquiring an additional 10,759 shares in the last quarter. Argent Trust Co grew its position in QUALCOMM by 264.6% in the second quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock valued at $2,632,000 after acquiring an additional 34,036 shares in the last quarter. Finally, Centaurus Financial Inc. grew its position in QUALCOMM by 298.5% in the second quarter. Centaurus Financial Inc. now owns 14,281 shares of the wireless technology company’s stock valued at $801,000 after acquiring an additional 10,697 shares in the last quarter. 77.39% of the stock is owned by institutional investors.
In related news, EVP Alexander H. Rogers sold 1,306 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $67.37, for a total transaction of $87,985.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alexander H. Rogers sold 828 shares of the firm’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $63.40, for a total value of $52,495.20. Following the transaction, the executive vice president now owns 7,170 shares in the company, valued at $454,578. The disclosure for this sale can be found here. Insiders have sold 91,613 shares of company stock worth $6,300,408 over the last 90 days. 0.24% of the stock is currently owned by company insiders.
Shares of QCOM opened at $65.15 on Friday. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $76.50. The firm has a market cap of $105.82 billion, a P/E ratio of 17.24, a PEG ratio of 2.12 and a beta of 1.66. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.30. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts predict that QUALCOMM, Inc. will post 3.12 EPS for the current fiscal year.
QUALCOMM declared that its Board of Directors has initiated a stock buyback program on Thursday, July 26th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to purchase up to 34.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
QUALCOMM Company Profile
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.
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