Engineers Gate Manager LP purchased a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,469 shares of the wireless technology company’s stock, valued at approximately $756,000.
Several other institutional investors have also bought and sold shares of QCOM. Aristotle Capital Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth $105,000. Squar Milner Financial Services LLC acquired a new position in shares of QUALCOMM during the 2nd quarter worth $106,000. We Are One Seven LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth $119,000. Institutional & Family Asset Management LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth $121,000. Finally, Point72 Asia Hong Kong Ltd raised its holdings in shares of QUALCOMM by 318.9% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,484 shares of the wireless technology company’s stock worth $138,000 after buying an additional 1,891 shares in the last quarter. 77.42% of the stock is owned by institutional investors.
In other QUALCOMM news, EVP Alexander H. Rogers sold 828 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $63.40, for a total value of $52,495.20. Following the sale, the executive vice president now owns 7,170 shares in the company, valued at approximately $454,578. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alexander H. Rogers sold 789 shares of the company’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $56.55, for a total value of $44,617.95. Following the completion of the sale, the executive vice president now owns 7,998 shares in the company, valued at approximately $452,286.90. The disclosure for this sale can be found here. Insiders sold a total of 2,669 shares of company stock worth $159,760 in the last quarter. Corporate insiders own 0.24% of the company’s stock.
A number of equities research analysts recently weighed in on the company. BidaskClub lowered QUALCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Summit Insights upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Monday, July 30th. BMO Capital Markets boosted their price objective on QUALCOMM to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, July 26th. Finally, ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and an average price target of $66.80.
NASDAQ QCOM opened at $66.06 on Friday. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $69.28. The stock has a market capitalization of $95.23 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.91 and a beta of 1.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.62 and a current ratio of 2.73.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.30. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The business’s revenue was up 5.7% on a year-over-year basis. equities research analysts expect that QUALCOMM, Inc. will post 3.12 EPS for the current year.
QUALCOMM announced that its board has approved a share repurchase plan on Wednesday, May 9th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the wireless technology company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 5th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.75%. QUALCOMM’s dividend payout ratio (DPR) is presently 65.61%.
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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