Squar Milner Financial Services LLC decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 16.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,194 shares of the wireless technology company’s stock after selling 1,385 shares during the quarter. Squar Milner Financial Services LLC’s holdings in QUALCOMM were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Clearbridge Investments LLC raised its position in QUALCOMM by 1.1% in the first quarter. Clearbridge Investments LLC now owns 9,379,210 shares of the wireless technology company’s stock worth $534,896,000 after acquiring an additional 99,528 shares during the period. FIL Ltd raised its position in QUALCOMM by 179.2% in the first quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock worth $272,050,000 after acquiring an additional 3,061,598 shares during the period. OppenheimerFunds Inc. raised its position in QUALCOMM by 48.5% in the first quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock worth $183,728,000 after acquiring an additional 1,052,071 shares during the period. CIBC Private Wealth Group LLC raised its position in QUALCOMM by 6.5% in the first quarter. CIBC Private Wealth Group LLC now owns 2,665,440 shares of the wireless technology company’s stock worth $152,010,000 after acquiring an additional 163,216 shares during the period. Finally, First Trust Advisors LP raised its position in QUALCOMM by 18.5% in the first quarter. First Trust Advisors LP now owns 2,659,746 shares of the wireless technology company’s stock worth $151,685,000 after acquiring an additional 416,097 shares during the period. Hedge funds and other institutional investors own 76.18% of the company’s stock.
In related news, EVP Michelle M. Sterling sold 5,560 shares of QUALCOMM stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total transaction of $480,606.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald J. Rosenberg sold 7,141 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $84.56, for a total transaction of $603,842.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,069 shares of company stock valued at $3,489,942. 0.11% of the stock is owned by corporate insiders.
Shares of QCOM stock traded down $1.89 during trading hours on Monday, reaching $69.26. 6,710,786 shares of the stock were exchanged, compared to its average volume of 12,079,326. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.39. The stock’s 50-day moving average is $74.44. The company has a market cap of $86.49 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the previous year, the company earned $1.01 EPS. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities research analysts anticipate that QUALCOMM, Inc. will post 3.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.58%. QUALCOMM’s dividend payout ratio is presently 77.74%.
QCOM has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. DZ Bank restated a “sell” rating on shares of QUALCOMM in a research report on Friday. Barclays downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $90.00 to $75.00 in a research report on Thursday, July 18th. TheStreet upgraded shares of QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday. Finally, Rosenblatt Securities restated a “buy” rating and set a $84.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $79.93.
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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