Sei Investments Co. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,038,715 shares of the wireless technology company’s stock after selling 109,654 shares during the period. Sei Investments Co. owned about 0.07% of QUALCOMM worth $59,560,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. American National Bank boosted its position in QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares during the last quarter. Welch Group LLC boosted its position in QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares during the last quarter. Advantage Investment Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $200,000. Glassman Wealth Services boosted its position in QUALCOMM by 9.1% in the fourth quarter. Glassman Wealth Services now owns 3,094 shares of the wireless technology company’s stock valued at $202,000 after buying an additional 258 shares during the last quarter. Finally, Commonwealth Financial Services LLC boosted its position in QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after buying an additional 3,022 shares during the last quarter. Hedge funds and other institutional investors own 77.25% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) opened at 53.84 on Friday. QUALCOMM Incorporated has a 1-year low of $51.05 and a 1-year high of $71.62. The company has a market cap of $79.55 billion, a PE ratio of 17.94 and a beta of 1.30. The company has a 50-day moving average of $56.56 and a 200-day moving average of $56.82. QUALCOMM also was the target of unusually large options trading activity on Thursday. Stock investors acquired 36,672 put options on the stock. This represents an increase of approximately 409% compared to the average daily volume of 7,198 put options.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the company earned $1.16 EPS. The business’s revenue was down 11.1% on a year-over-year basis. Equities analysts forecast that QUALCOMM Incorporated will post $4.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.23%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
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Several equities analysts have weighed in on QCOM shares. Stifel Nicolaus lowered their price objective on shares of QUALCOMM from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, March 30th. Mizuho reiterated a “buy” rating and set a $75.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 11th. Canaccord Genuity lowered their price objective on shares of QUALCOMM from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. Standpoint Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Friday, April 28th. Finally, Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price objective on the stock. in a research report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $64.32.
In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the sale, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann M. Livermore acquired 9,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $54.59 per share, with a total value of $491,310.00. The disclosure for this purchase can be found here. Insiders sold a total of 62,473 shares of company stock valued at $3,526,917 in the last quarter. Corporate insiders own 0.17% of the company’s stock.
About QUALCOMM
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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