Dillon & Associates Inc. reduced its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 28.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,470 shares of the wireless technology company’s stock after selling 4,483 shares during the quarter. Dillon & Associates Inc.’s holdings in QUALCOMM were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Aristotle Capital Management LLC purchased a new stake in QUALCOMM in the first quarter worth $105,000. Squar Milner Financial Services LLC purchased a new position in shares of QUALCOMM in the second quarter valued at $106,000. We Are One Seven LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $119,000. Institutional & Family Asset Management LLC purchased a new position in shares of QUALCOMM in the first quarter valued at $121,000. Finally, Point72 Asia Hong Kong Ltd grew its position in shares of QUALCOMM by 318.9% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,484 shares of the wireless technology company’s stock valued at $138,000 after purchasing an additional 1,891 shares in the last quarter. 76.13% of the stock is owned by institutional investors and hedge funds.
NASDAQ:QCOM opened at $66.55 on Wednesday. The firm has a market cap of $97.05 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $69.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.30. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.19 billion. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. equities research analysts anticipate that QUALCOMM, Inc. will post 3.12 EPS for the current year.
QUALCOMM announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 9th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the wireless technology company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 5th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.73%. The ex-dividend date is Tuesday, September 4th. QUALCOMM’s dividend payout ratio is 65.61%.
In related news, EVP Alexander H. Rogers sold 1,052 shares of QUALCOMM stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $59.55, for a total transaction of $62,646.60. Following the completion of the sale, the executive vice president now owns 8,787 shares of the company’s stock, valued at $523,265.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alexander H. Rogers sold 789 shares of QUALCOMM stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $56.55, for a total value of $44,617.95. Following the sale, the executive vice president now directly owns 7,998 shares of the company’s stock, valued at approximately $452,286.90. The disclosure for this sale can be found here. Insiders have sold 2,669 shares of company stock valued at $159,760 in the last three months. 0.24% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on QCOM shares. Royal Bank of Canada reiterated a “buy” rating and issued a $75.00 price target on shares of QUALCOMM in a research report on Tuesday, April 24th. Stifel Nicolaus reduced their price target on QUALCOMM from $56.00 to $54.00 and set a “hold” rating for the company in a research report on Thursday, April 26th. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. BMO Capital Markets reduced their price target on QUALCOMM from $70.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, April 26th. Finally, Macquarie reduced their price target on QUALCOMM from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.97.
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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