Atlas Capital Advisors LLC lowered its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 58.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 699 shares of the wireless technology company’s stock after selling 971 shares during the period. Atlas Capital Advisors LLC’s holdings in QUALCOMM were worth $64,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in QUALCOMM by 31.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,178,776 shares of the wireless technology company’s stock worth $417,994,000 after acquiring an additional 1,467,770 shares during the period. Public Investment Fund purchased a new stake in QUALCOMM in the first quarter valued at $77,798,000. Schroder Investment Management Group lifted its stake in shares of QUALCOMM by 159.5% in the 1st quarter. Schroder Investment Management Group now owns 1,765,685 shares of the wireless technology company’s stock valued at $125,275,000 after purchasing an additional 1,085,233 shares during the last quarter. PGGM Investments purchased a new position in shares of QUALCOMM during the 2nd quarter worth $88,983,000. Finally, APG Asset Management N.V. increased its position in shares of QUALCOMM by 75.8% during the 1st quarter. APG Asset Management N.V. now owns 1,764,837 shares of the wireless technology company’s stock worth $119,391,000 after purchasing an additional 760,900 shares during the last quarter. 74.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Akash J. Palkhiwala sold 3,925 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $102.42, for a total transaction of $401,998.50. Following the completion of the sale, the chief financial officer now owns 17,790 shares in the company, valued at approximately $1,822,051.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Erin L. Polek sold 1,646 shares of QUALCOMM stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,740 shares of company stock worth $22,024,427. Corporate insiders own 0.12% of the company’s stock.
Shares of QUALCOMM stock opened at $105.61 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. QUALCOMM, Inc. has a 52 week low of $58.00 and a 52 week high of $107.75. The firm’s 50 day moving average is $90.67 and its two-hundred day moving average is $82.54. The firm has a market capitalization of $120.94 billion, a P/E ratio of 40.30, a P/E/G ratio of 1.98 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts expect that QUALCOMM, Inc. will post 3.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $2.60 annualized dividend and a yield of 2.46%. QUALCOMM’s dividend payout ratio is presently 91.55%.
Several research analysts have weighed in on QCOM shares. Wells Fargo & Co increased their target price on shares of QUALCOMM from $70.00 to $90.00 in a research note on Thursday. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $90.00 price objective for the company in a research report on Friday, June 12th. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Raymond James lifted their price objective on QUALCOMM from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Thursday. Finally, Mizuho reiterated a “buy” rating and issued a $105.00 price objective (up previously from $91.00) on shares of QUALCOMM in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $106.36.
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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