PGGM Investments reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 945,448 shares of the wireless technology company’s stock after selling 4,597 shares during the period. PGGM Investments owned 0.06% of QUALCOMM worth $52,208,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Jacobi Capital Management LLC boosted its stake in shares of QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares in the last quarter. Alpha Windward LLC boosted its stake in shares of QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares in the last quarter. American National Bank boosted its stake in shares of 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 in the last quarter. Welch Group LLC boosted its stake in shares of 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 in the last quarter. Finally, Commonwealth Financial Services LLC boosted its stake in shares of 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 in the last quarter. Institutional investors own 76.59% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.2103% during mid-day trading on Wednesday, hitting $52.2399. 2,356,880 shares of the stock were exchanged. The stock’s 50 day moving average is $53.95 and its 200 day moving average is $55.57. The stock has a market cap of $77.11 billion, a PE ratio of 20.0076 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 announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating 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 firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. Analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is 87.36%.
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Several brokerages recently issued reports on QCOM. UBS AG restated a “neutral” rating and issued a $58.00 target price on shares of QUALCOMM in a report on Tuesday, May 2nd. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $75.00 to $62.50 in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BMO Capital Markets restated a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a report on Monday, July 10th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $56.00 target price on shares of QUALCOMM in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and an average target price of $63.96.
In other news, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Insiders sold a total of 51,332 shares of company stock valued at $2,875,886 in the last three months. 0.24% of the stock is currently owned by corporate 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.
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