Torray LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 29.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,400 shares of the wireless technology company’s stock after acquiring an additional 3,750 shares during the quarter. Torray LLC’s holdings in QUALCOMM were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC lifted its holdings in QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after acquiring an additional 250 shares during the last quarter. Alpha Windward LLC lifted its holdings in QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after acquiring an additional 153 shares during the last quarter. Welch Group LLC raised its holdings in QUALCOMM by 2.3% during the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares during the period. American National Bank raised its holdings in QUALCOMM by 28.7% during the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after buying an additional 812 shares during the period. Finally, Ronald Blue & Co. LLC raised its holdings in QUALCOMM by 0.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after buying an additional 18 shares during the period. 76.93% of the stock is owned by institutional investors.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.02 on Friday. The company has a market capitalization of $76.78 billion, a PE ratio of 19.92 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62. The stock has a 50 day moving average price of $51.88 and a 200 day moving average price of $54.17.
QUALCOMM (NASDAQ:QCOM) last issued 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 return on equity of 19.64% and a net margin of 17.26%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.38%. QUALCOMM’s dividend payout ratio is currently 87.36%.
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Several analysts have issued reports on the company. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. BidaskClub upgraded QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Sanford C. Bernstein restated a “market perform” rating and set a $60.00 price objective on shares of QUALCOMM in a report on Friday, June 30th. BMO Capital Markets restated a “market perform” rating and set a $55.00 price objective on shares of QUALCOMM in a report on Thursday, August 24th. Finally, Stifel Nicolaus restated a “buy” rating and set a $65.00 price objective on shares of QUALCOMM in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $63.80.
In other news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 5,810 shares of company stock valued at $301,596 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.
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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