CNB Bank lifted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,631 shares of the wireless technology company’s stock after acquiring an additional 179 shares during the period. QUALCOMM accounts for 1.1% of CNB Bank’s portfolio, making the stock its 20th largest position. CNB Bank’s holdings in QUALCOMM were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beacon Financial Advisory LLC increased its position in QUALCOMM by 1.8% during the 2nd quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock valued at $583,000 after buying an additional 116 shares in the last quarter. Nadler Financial Group Inc. increased its position in QUALCOMM by 3.8% during the 2nd quarter. Nadler Financial Group Inc. now owns 3,237 shares of the wireless technology company’s stock valued at $295,000 after buying an additional 118 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in QUALCOMM by 1.7% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,508 shares of the wireless technology company’s stock valued at $508,000 after buying an additional 125 shares in the last quarter. Paulson Wealth Management Inc. increased its position in QUALCOMM by 2.3% during the 1st quarter. Paulson Wealth Management Inc. now owns 5,948 shares of the wireless technology company’s stock valued at $452,000 after buying an additional 131 shares in the last quarter. Finally, Private Portfolio Partners LLC increased its position in QUALCOMM by 3.6% during the 1st quarter. Private Portfolio Partners LLC now owns 3,869 shares of the wireless technology company’s stock valued at $261,000 after buying an additional 135 shares in the last quarter. 74.50% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley raised QUALCOMM from an “equal weight” rating to an “overweight” rating and set a $102.00 target price on the stock in a research report on Tuesday, June 16th. Charter Equity reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Thursday, April 30th. KeyCorp increased their price objective on QUALCOMM from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Raymond James lowered QUALCOMM to a “sell” rating in a report on Friday, June 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $93.57.
Shares of QCOM traded up $1.05 during mid-day trading on Tuesday, reaching $92.38. The company had a trading volume of 6,564,787 shares, compared to its average volume of 10,776,617. QUALCOMM, Inc. has a 52-week low of $58.00 and a 52-week high of $96.17. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 4.42. The stock has a market capitalization of $104.07 billion, a P/E ratio of 27.33, a PEG ratio of 1.71 and a beta of 1.34. The stock has a 50 day moving average of $87.80 and a two-hundred day moving average of $82.19.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.04 billion. QUALCOMM had a return on equity of 69.92% and a net margin of 16.36%. QUALCOMM’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. On average, sell-side analysts expect that QUALCOMM, Inc. will post 3.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a dividend of $0.65 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 2.81%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s dividend payout ratio is currently 91.55%.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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