HM Payson & Co. boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.7% during the first quarter, Holdings Channel reports. The institutional investor owned 520,564 shares of the wireless technology company’s stock after buying an additional 58,865 shares during the period. QUALCOMM makes up approximately 1.4% of HM Payson & Co.’s holdings, making the stock its 20th largest position. HM Payson & Co.’s holdings in QUALCOMM were worth $29,849,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Weaver C. Barksdale & Associates Inc. boosted its position in QUALCOMM by 57.3% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 23,573 shares of the wireless technology company’s stock valued at $1,352,000 after buying an additional 8,585 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its position in QUALCOMM by 5.6% in the first quarter. Osborn Williams & Donohoe LLC now owns 70,819 shares of the wireless technology company’s stock valued at $4,061,000 after buying an additional 3,728 shares in the last quarter. Indiana Trust & Investment Management CO boosted its position in QUALCOMM by 5.3% in the first quarter. Indiana Trust & Investment Management CO now owns 8,058 shares of the wireless technology company’s stock valued at $462,000 after buying an additional 403 shares in the last quarter. Hills Bank & Trust Co. boosted its position in QUALCOMM by 3.8% in the first quarter. Hills Bank & Trust Co. now owns 33,632 shares of the wireless technology company’s stock valued at $1,929,000 after buying an additional 1,245 shares in the last quarter. Finally, Paradigm Financial Advisors LLC boosted its position in QUALCOMM by 14.5% in the first quarter. Paradigm Financial Advisors LLC now owns 60,920 shares of the wireless technology company’s stock valued at $3,493,000 after buying an additional 7,727 shares in the last quarter. 76.59% of the stock is owned by hedge funds and other institutional investors.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.58% during trading on Thursday, hitting $53.00. 1,180,839 shares of the stock were exchanged. The stock’s 50 day moving average is $54.24 and its 200-day moving average is $55.57. The stock has a market cap of $78.23 billion, a price-to-earnings ratio of 20.30 and a beta of 1.29. QUALCOMM Incorporated has a 12-month low of $51.05 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. Equities research analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently announced 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 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
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Several research analysts have weighed in on QCOM shares. Vetr lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 target price on the stock. in a research report on Monday, May 22nd. Stifel Nicolaus upped their target price on shares of QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 26th. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research report on Sunday, May 21st. J P Morgan Chase & Co upgraded shares of QUALCOMM from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $50.00 to $68.00 in a research report on Monday, May 22nd. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. 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 issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 22,251 shares of QUALCOMM stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the sale, the president now directly owns 28,959 shares in the company, valued at $1,667,748.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the sale, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold 52,101 shares of company stock valued at $2,955,612 over the last quarter. Corporate insiders own 0.17% of the company’s stock.
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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