Hamel Associates Inc. Has $2.85 Million Position in QUALCOMM Incorporated (QCOM)

Hamel Associates Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,650 shares of the wireless technology company’s stock after selling 9,125 shares during the period. QUALCOMM comprises approximately 1.4% of Hamel Associates Inc.’s portfolio, making the stock its 29th largest position. Hamel Associates Inc.’s holdings in QUALCOMM were worth $2,847,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Legacy Capital Partners Inc. boosted its stake in QUALCOMM by 12.9% in the first quarter. Legacy Capital Partners Inc. now owns 29,140 shares of the wireless technology company’s stock worth $1,671,000 after buying an additional 3,325 shares during the period. Carret Asset Management LLC raised its position in shares of QUALCOMM by 1.7% in the first quarter. Carret Asset Management LLC now owns 57,397 shares of the wireless technology company’s stock worth $3,291,000 after buying an additional 933 shares in the last quarter. Windsor Financial Group LLC raised its position in shares of QUALCOMM by 1.2% in the first quarter. Windsor Financial Group LLC now owns 78,764 shares of the wireless technology company’s stock worth $4,516,000 after buying an additional 940 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of QUALCOMM by 1.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,244,291 shares of the wireless technology company’s stock worth $186,028,000 after buying an additional 54,030 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of QUALCOMM by 381.4% in the first quarter. Assetmark Inc. now owns 65,920 shares of the wireless technology company’s stock worth $3,780,000 after buying an additional 52,227 shares in the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.

QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.4162% during trading on Wednesday, hitting $53.6458. The stock had a trading volume of 4,121,550 shares. The company has a 50-day moving average of $54.30 and a 200 day moving average of $55.59. The firm has a market cap of $79.18 billion, a P/E ratio of 20.5461 and a beta of 1.29. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (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 company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same period last year, the firm posted $1.16 EPS. QUALCOMM’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, equities research analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal 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 given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.

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QCOM has been the subject of several recent analyst reports. Rosenblatt Securities downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Wednesday, April 19th. Cowen and Company restated an “outperform” rating and set a $73.00 price objective on shares of QUALCOMM in a research report on Wednesday, April 19th. Morgan Stanley restated an “equal weight” rating on shares of QUALCOMM in a research report on Wednesday, April 19th. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a research report on Wednesday, April 19th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of QUALCOMM in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and an average price target of $63.96.

In other QUALCOMM news, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total transaction of $325,636.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 470 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the transaction, the executive vice president now directly owns 3,049 shares in the company, valued at $174,646.72. The disclosure for this sale can be found here. Insiders have sold a total of 52,101 shares of company stock worth $2,955,612 over the last three months. 0.24% of the stock is currently owned by insiders.

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.