Traders sold shares of QUALCOMM Incorporated (NASDAQ:QCOM) on strength during trading on Tuesday. $63.09 million flowed into the stock on the tick-up and $102.54 million flowed out of the stock on the tick-down, for a money net flow of $39.45 million out of the stock. Of all equities tracked, QUALCOMM had the 20th highest net out-flow for the day. QUALCOMM traded up $0.32 for the day and closed at $53.87
A number of brokerages recently commented on QCOM. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Northland Securities cut QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $75.00 to $62.50 in a research note on Wednesday, June 28th. Finally, Vetr raised QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective for the company in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $63.96.
The firm has a 50-day moving average price of $54.30 and a 200 day moving average price of $55.59. The firm has a market cap of $79.52 billion, a PE ratio of 20.63 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the firm earned $1.16 EPS. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.23%. QUALCOMM’s dividend payout ratio is currently 87.36%.
In other news, EVP Alexander H. Rogers sold 470 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction 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 document filed with the SEC, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $59.11, for a total transaction of $325,636.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,101 shares of company stock worth $2,955,612. Insiders own 0.24% of the company’s stock.
Large investors have recently modified their holdings of the company. Cardinal Capital Management Inc. raised its stake in shares of QUALCOMM by 543.8% in the first quarter. Cardinal Capital Management Inc. now owns 10,300 shares of the wireless technology company’s stock valued at $591,000 after buying an additional 8,700 shares during the last quarter. Trust Co raised its stake in shares of QUALCOMM by 2.2% in the fourth quarter. Trust Co now owns 37,502 shares of the wireless technology company’s stock valued at $2,445,000 after buying an additional 801 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of QUALCOMM during the first quarter valued at about $278,000. Atlas Brown Inc. raised its stake in shares of QUALCOMM by 45.4% in the first quarter. Atlas Brown Inc. now owns 5,873 shares of the wireless technology company’s stock valued at $337,000 after buying an additional 1,835 shares during the last quarter. Finally, Peachtree Investment Advisors Inc. raised its stake in shares of QUALCOMM by 4.6% in the first quarter. Peachtree Investment Advisors Inc. now owns 27,840 shares of the wireless technology company’s stock valued at $1,596,000 after buying an additional 1,215 shares during the last quarter. Institutional investors own 76.59% of the company’s stock.
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QUALCOMM Company Profile
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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