Keybank National Association OH decreased its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 201,126 shares of the wireless technology company’s stock after selling 13,937 shares during the period. Keybank National Association OH’s holdings in QUALCOMM were worth $15,300,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. HL Financial Services LLC grew its stake in QUALCOMM by 0.6% during the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock worth $1,162,000 after buying an additional 128 shares during the period. Lindbrook Capital LLC grew its stake in QUALCOMM by 5.2% during the second quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock worth $214,000 after buying an additional 139 shares during the period. Enterprise Financial Services Corp grew its stake in QUALCOMM by 9.9% during the second quarter. Enterprise Financial Services Corp now owns 1,585 shares of the wireless technology company’s stock worth $121,000 after buying an additional 143 shares during the period. Harrington Investments INC grew its stake in QUALCOMM by 1.1% during the first quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after buying an additional 150 shares during the period. Finally, Evolution Wealth Advisors LLC grew its stake in QUALCOMM by 4.6% during the first quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock worth $201,000 after buying an additional 154 shares during the period. 77.19% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. DZ Bank reiterated a “sell” rating on shares of QUALCOMM in a research note on Friday, August 2nd. Argus upped their target price on shares of QUALCOMM to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Raymond James upgraded shares of QUALCOMM from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $85.00 to $115.00 in a research note on Thursday, May 2nd. Cowen restated an “outperform” rating and issued a $80.00 target price (down from $100.00) on shares of QUALCOMM in a research note on Thursday, May 23rd. Finally, Bank of America decreased their target price on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $79.93.
QCOM traded down $1.49 during trading on Wednesday, hitting $70.69. The company had a trading volume of 380,282 shares, compared to its average volume of 16,782,865. The company has a market cap of $84.34 billion, a P/E ratio of 22.17, a PEG ratio of 1.94 and a beta of 1.62. The stock has a 50-day moving average of $74.33. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $90.34.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $4.89 billion for 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 firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. Sell-side analysts predict that QUALCOMM, Inc. will post 2.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.51%. QUALCOMM’s dividend payout ratio is presently 77.74%.
In related news, SVP Erin L. Polek sold 1,478 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at $97,518.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.
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