Smithbridge Asset Management Inc. DE decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,024 shares of the wireless technology company’s stock after selling 200 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in QUALCOMM were worth $1,299,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in QUALCOMM by 5.2% during the 2nd 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 raised its holdings in QUALCOMM by 9.9% during the 2nd 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. Cullinan Associates Inc. raised its holdings in QUALCOMM by 1.7% during the 3rd quarter. Cullinan Associates Inc. now owns 9,160 shares of the wireless technology company’s stock worth $699,000 after buying an additional 150 shares during the period. Carroll Financial Associates Inc. raised its holdings in QUALCOMM by 2.0% during the 3rd quarter. Carroll Financial Associates Inc. now owns 7,994 shares of the wireless technology company’s stock worth $609,000 after buying an additional 155 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of QUALCOMM by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 6,419 shares of the wireless technology company’s stock valued at $474,000 after purchasing an additional 156 shares during the last quarter. 78.52% of the stock is currently owned by institutional investors and hedge funds.
QCOM traded up $1.52 during trading on Tuesday, reaching $77.82. 5,054,947 shares of the stock were exchanged, compared to its average volume of 6,060,725. The stock has a market cap of $93.24 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 1.82 and a beta of 1.59. QUALCOMM, Inc. has a twelve month low of $49.10 and a twelve month high of $90.34. The stock’s 50 day moving average price is $76.86 and its two-hundred day moving average price is $73.96. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. Equities research analysts predict that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.19%. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 10,398 shares of QUALCOMM stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $779,953.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Erin L. Polek sold 1,478 shares of QUALCOMM stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total transaction of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at $97,518.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,985 shares of company stock valued at $892,245. Company insiders own 0.11% of the company’s stock.
QCOM has been the topic of a number of recent research reports. Morgan Stanley set a $89.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a report on Wednesday, August 21st. TheStreet upgraded shares of QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. Barclays downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $90.00 to $75.00 in a report on Thursday, July 18th. BidaskClub upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 7th. Finally, DZ Bank reiterated a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $79.68.
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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