Douglas Lane & Associates LLC reduced its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,626,368 shares of the wireless technology company’s stock after selling 12,641 shares during the period. QUALCOMM accounts for approximately 2.4% of Douglas Lane & Associates LLC’s portfolio, making the stock its 2nd largest holding. Douglas Lane & Associates LLC owned approximately 0.13% of QUALCOMM worth $123,718,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in QCOM. Deprince Race & Zollo Inc. boosted its stake in QUALCOMM by 4.4% in the 4th quarter. Deprince Race & Zollo Inc. now owns 487,797 shares of the wireless technology company’s stock worth $27,761,000 after purchasing an additional 20,448 shares during the period. Comerica Securities Inc. boosted its stake in QUALCOMM by 1.3% in the 4th quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock worth $1,615,000 after purchasing an additional 370 shares during the period. Brandywine Global Investment Management LLC acquired a new position in QUALCOMM in the 4th quarter worth approximately $36,000. Squarepoint Ops LLC boosted its stake in QUALCOMM by 229.8% in the 4th quarter. Squarepoint Ops LLC now owns 232,128 shares of the wireless technology company’s stock worth $13,210,000 after purchasing an additional 161,733 shares during the period. Finally, MML Investors Services LLC boosted its stake in QUALCOMM by 2.8% in the 4th quarter. MML Investors Services LLC now owns 59,373 shares of the wireless technology company’s stock worth $3,379,000 after purchasing an additional 1,629 shares during the period. Institutional investors and hedge funds own 76.24% of the company’s stock.
QCOM has been the subject of a number of research reports. Citigroup lowered shares of BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Argus lifted their target price on shares of QUALCOMM to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Stifel Nicolaus lifted their target price on shares of Wayfair from $132.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Macquarie set a $90.00 target price on shares of QUALCOMM and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Edward Jones lowered shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 target price for the company. in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and a consensus target price of $79.31.
In related news, EVP Michelle M. Sterling sold 5,560 shares of QUALCOMM stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total value of $480,606.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 20,862 shares of QUALCOMM stock in a transaction on Monday, May 6th. The stock was sold at an average price of $88.43, for a total transaction of $1,844,826.66. The disclosure for this sale can be found here. Insiders have sold a total of 87,489 shares of company stock worth $7,603,985 in the last 90 days. 0.11% of the stock is owned by insiders.
Shares of QUALCOMM stock traded down $1.83 during midday trading on Tuesday, reaching $74.12. 11,840,196 shares of the company’s stock traded hands, compared to its average volume of 17,355,594. The stock has a market capitalization of $90.44 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.78 and a beta of 1.63. The firm has a 50 day moving average of $73.34. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.83 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. QUALCOMM’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. As a group, research analysts expect that QUALCOMM, Inc. will post 3.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.62 per share. The ex-dividend date was Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.35%. QUALCOMM’s dividend payout ratio is currently 77.74%.
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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