Dubuque Bank & Trust Co. lowered its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 51.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,167 shares of the wireless technology company’s stock after selling 5,573 shares during the quarter. Dubuque Bank & Trust Co.’s holdings in QUALCOMM were worth $286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Garde Capital Inc. increased its stake in QUALCOMM by 77.8% in the third quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock valued at $894,000 after acquiring an additional 7,547 shares during the period. Global Financial Private Capital LLC increased its stake in QUALCOMM by 8.1% in the fourth quarter. Global Financial Private Capital LLC now owns 39,953 shares of the wireless technology company’s stock valued at $2,558,000 after acquiring an additional 3,000 shares during the period. Middleton & Co Inc MA increased its stake in QUALCOMM by 4.2% in the fourth quarter. Middleton & Co Inc MA now owns 92,050 shares of the wireless technology company’s stock valued at $5,893,000 after acquiring an additional 3,750 shares during the period. First Heartland Consultants Inc. increased its stake in QUALCOMM by 29.2% in the third quarter. First Heartland Consultants Inc. now owns 9,745 shares of the wireless technology company’s stock valued at $505,000 after acquiring an additional 2,203 shares during the period. Finally, Sentry Investment Management LLC increased its stake in QUALCOMM by 2.0% in the fourth quarter. Sentry Investment Management LLC now owns 118,977 shares of the wireless technology company’s stock valued at $7,617,000 after acquiring an additional 2,347 shares during the period. 76.92% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP James H. Thompson sold 50,126 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.66, for a total value of $3,140,895.16. Following the transaction, the executive vice president now directly owns 136,482 shares in the company, valued at $8,551,962.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander H. Rogers sold 663 shares of the stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total transaction of $37,519.17. Following the completion of the transaction, the executive vice president now owns 8,794 shares in the company, valued at $497,652.46. The disclosure for this sale can be found here. Insiders sold 80,383 shares of company stock worth $4,762,616 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
Several analysts have weighed in on the stock. KeyCorp upped their price objective on shares of QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. BidaskClub raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Saturday. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price objective on the stock. in a research note on Thursday, February 1st. Deutsche Bank assumed coverage on shares of QUALCOMM in a research note on Thursday, March 15th. They set a “hold” rating and a $60.00 price objective on the stock. Finally, ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $63.67.
Shares of QUALCOMM opened at $59.96 on Friday, MarketBeat Ratings reports. QUALCOMM, Inc. has a 1 year low of $48.56 and a 1 year high of $69.28. The company has a market cap of $87.22 billion, a PE ratio of 15.86, a P/E/G ratio of 1.89 and a beta of 1.47. The company has a current ratio of 3.60, a quick ratio of 3.46 and a debt-to-equity ratio of 0.81.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.10. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same period in the prior year, the business earned $1.34 earnings per share. QUALCOMM’s quarterly revenue was down 13.3% on a year-over-year basis. research analysts predict that QUALCOMM, Inc. will post 2.71 EPS for the current year.
QUALCOMM declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 9th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the wireless technology company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 30th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.14%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, May 29th. QUALCOMM’s dividend payout ratio is presently 60.32%.
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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