Oppenheimer Asset Management Inc. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,685 shares of the wireless technology company’s stock after selling 24,086 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in QUALCOMM were worth $11,468,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its position in QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after purchasing an additional 250 shares during the last quarter. Alpha Windward LLC lifted its position in QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after purchasing an additional 153 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of QUALCOMM by 40.7% during the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares in the last quarter. American National Bank raised its holdings in shares of QUALCOMM by 28.7% during the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after acquiring an additional 812 shares in the last quarter. Finally, Ronald Blue & Co. LLC raised its holdings in shares of QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after acquiring an additional 18 shares in the last quarter. 76.85% of the stock is owned by institutional investors and hedge funds.
QUALCOMM Incorporated (QCOM) traded down $0.03 during trading on Friday, reaching $64.57. The company’s stock had a trading volume of 9,626,200 shares, compared to its average volume of 18,051,296. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $95,186.84, a PE ratio of 17.08, a PEG ratio of 1.81 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. analysts anticipate that QUALCOMM Incorporated will post 3.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is currently 138.18%.
QCOM has been the topic of several recent research reports. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. BidaskClub raised QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 target price on shares of QUALCOMM in a report on Thursday, August 24th. UBS AG lowered their target price on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Finally, Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $64.62.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,837 shares of company stock worth $1,512,049. Corporate insiders own 0.17% of the company’s stock.
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QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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