US Bancorp DE trimmed its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,139,283 shares of the wireless technology company’s stock after selling 65,125 shares during the period. US Bancorp DE owned about 0.09% of QUALCOMM worth $86,666,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Weaver Consulting Group acquired a new position in QUALCOMM during the first quarter worth $25,000. Farmers National Bank acquired a new stake in shares of QUALCOMM in the first quarter valued at about $26,000. Meridian Wealth Management LLC acquired a new stake in shares of QUALCOMM in the first quarter valued at about $26,000. Ibex Wealth Advisors acquired a new stake in shares of QUALCOMM in the second quarter valued at about $28,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of QUALCOMM in the second quarter valued at about $28,000. Institutional investors and hedge funds own 78.73% of the company’s stock.
In other news, SVP Erin L. Polek sold 1,478 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the transaction, the senior vice president now owns 1,386 shares in the company, valued at $97,518.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark D. Mclaughlin bought 2,705 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average price of $73.84 per share, with a total value of $199,737.20. Following the purchase, the director now directly owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The disclosure for this purchase can be found here. 0.11% of the stock is owned by company insiders.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. As a group, research analysts anticipate that QUALCOMM, Inc. will post 2.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is 77.74%.
Several brokerages have recently issued reports on QCOM. DZ Bank reaffirmed a “sell” rating on shares of QUALCOMM in a research report on Friday, August 2nd. TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday, August 1st. Morgan Stanley set a $89.00 price target on QUALCOMM and gave the company a “buy” rating in a research report on Wednesday, August 21st. Cfra set a $80.00 price target on QUALCOMM and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price target on shares of QUALCOMM in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $79.68.
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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