McIlrath & Eck LLC decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 34.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 756 shares of the wireless technology company’s stock after selling 400 shares during the quarter. McIlrath & Eck LLC’s holdings in QUALCOMM were worth $58,000 as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its stake in QUALCOMM by 2.5% in the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after acquiring an additional 233 shares during the period. Cincinnati Financial Corp grew its stake in QUALCOMM by 4.9% in the 2nd quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock valued at $72,837,000 after acquiring an additional 45,000 shares during the period. Jennison Associates LLC grew its stake in QUALCOMM by 996.4% in the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after acquiring an additional 13,893,238 shares during the period. FLC Capital Advisors grew its stake in QUALCOMM by 36.1% in the 2nd quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock valued at $578,000 after acquiring an additional 2,000 shares during the period. Finally, Balasa Dinverno & Foltz LLC acquired a new stake in QUALCOMM in the 2nd quarter valued at $263,000. 78.30% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Mark D. Mclaughlin bought 2,705 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $73.84 per share, with a total value of $199,737.20. Following the transaction, the director now directly owns 5,220 shares in the company, valued at approximately $385,444.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Cristiano R. Amon sold 8,611 shares of QUALCOMM stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.03, for a total value of $689,138.33. Following the completion of the transaction, the president now directly owns 50,434 shares of the company’s stock, valued at $4,036,233.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,118 shares of company stock valued at $1,477,392. 0.11% of the stock is currently owned by corporate insiders.
A number of research firms 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 research note on Wednesday, August 21st. BidaskClub raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th. Daiwa Capital Markets began coverage on shares of QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating on the stock. TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price target on shares of QUALCOMM to $88.00 and gave the company a “sector perform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $85.18.
QCOM stock traded up $4.05 during midday trading on Friday, reaching $94.03. The stock had a trading volume of 16,371,200 shares, compared to its average volume of 14,163,117. The company has a market cap of $103.89 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. The company’s fifty day simple moving average is $78.92 and its 200 day simple moving average is $76.48. QUALCOMM, Inc. has a 52-week low of $49.10 and a 52-week high of $94.11.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.07. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.71 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. QUALCOMM’s revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. Sell-side analysts predict that QUALCOMM, Inc. will post 3.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s dividend payout ratio is currently 87.32%.
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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