TIAA FSB purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 138,330 shares of the wireless technology company’s stock, valued at approximately $7,638,000.
Several other institutional investors have also bought and sold shares of QCOM. Ronald Blue & Co. LLC grew its stake in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after purchasing an additional 18 shares during the last quarter. Hollencrest Securities LLC boosted its holdings in shares of QUALCOMM by 0.9% in the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after buying an additional 40 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of QUALCOMM by 0.4% in the second quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock worth $522,000 after buying an additional 42 shares during the period. FCA Corp TX boosted its holdings in shares of QUALCOMM by 0.9% in the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock worth $276,000 after buying an additional 43 shares during the period. Finally, Farmers Trust Co. boosted its holdings in shares of QUALCOMM by 0.9% in the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock worth $288,000 after buying an additional 48 shares during the period. Institutional investors own 76.66% of the company’s stock.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,427 shares of company stock valued at $1,827,995. 0.17% of the stock is owned by company insiders.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded up $0.25 during mid-day trading on Thursday, hitting $65.23. The stock had a trading volume of 8,754,583 shares, compared to its average volume of 11,392,799. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $96,030.00, a PE ratio of 17.11, a PEG ratio of 1.81 and a beta of 1.39. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the business posted $1.28 EPS. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.50%. QUALCOMM’s payout ratio is 138.18%.
Several research analysts have commented on QCOM shares. Canaccord Genuity raised their target price on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, UBS decreased their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $66.02.
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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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