Adirondack Trust Co. trimmed its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,903 shares of the wireless technology company’s stock after selling 192 shares during the quarter. Adirondack Trust Co.’s holdings in QUALCOMM were worth $603,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in QCOM. Lindbrook Capital LLC increased its holdings in QUALCOMM by 5.2% in the 2nd quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock valued at $214,000 after buying an additional 139 shares during the period. Enterprise Financial Services Corp grew its holdings in shares of QUALCOMM by 9.9% during the 2nd quarter. Enterprise Financial Services Corp now owns 1,585 shares of the wireless technology company’s stock valued at $121,000 after purchasing an additional 143 shares during the last quarter. Cullinan Associates Inc. grew its holdings in shares of QUALCOMM by 1.7% during the 3rd quarter. Cullinan Associates Inc. now owns 9,160 shares of the wireless technology company’s stock valued at $699,000 after purchasing an additional 150 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of QUALCOMM by 2.0% during the 3rd quarter. Carroll Financial Associates Inc. now owns 7,994 shares of the wireless technology company’s stock valued at $609,000 after purchasing an additional 155 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of QUALCOMM by 2.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 6,419 shares of the wireless technology company’s stock valued at $474,000 after purchasing an additional 156 shares during the last quarter. 78.45% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on QCOM. Morgan Stanley set a $89.00 price target on shares of QUALCOMM and gave the company a “buy” rating in a report on Wednesday, August 21st. Bank of America decreased their price target on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. DZ Bank reaffirmed a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price target on shares of QUALCOMM in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Buy” and an average price target of $79.68.
In other news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the transaction, the senior vice president now owns 1,386 shares in the company, valued at approximately $97,518.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle M. Sterling sold 10,398 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $779,953.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,985 shares of company stock worth $892,245. 0.11% of the stock is owned by corporate insiders.
NASDAQ:QCOM remained flat at $$74.35 during mid-day trading on Wednesday. 4,605,333 shares of the company traded hands, compared to its average volume of 14,860,096. The stock’s fifty day moving average is $76.77 and its 200 day moving average is $73.47. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.61. QUALCOMM, Inc. has a twelve month low of $49.10 and a twelve month high of $90.34. The company has a market cap of $94.20 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 1.84 and a beta of 1.59.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, analysts forecast that QUALCOMM, Inc. will post 2.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.34%. QUALCOMM’s dividend payout ratio is presently 77.74%.
QUALCOMM Company Profile
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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