McKinley Carter Wealth Services Inc. boosted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,429 shares of the wireless technology company’s stock after purchasing an additional 489 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in QUALCOMM were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new stake in QUALCOMM in the 2nd quarter valued at about $41,000. Mondrian Capital Management LLC purchased a new stake in QUALCOMM in the 2nd quarter valued at about $2,282,000. Duff & Phelps Investment Management Co. grew its holdings in QUALCOMM by 1.5% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 13,265 shares of the wireless technology company’s stock valued at $1,009,000 after buying an additional 200 shares during the period. Minneapolis Portfolio Management Group LLC grew its holdings in QUALCOMM by 31.6% in the 2nd quarter. Minneapolis Portfolio Management Group LLC now owns 537,324 shares of the wireless technology company’s stock valued at $40,874,000 after buying an additional 129,090 shares during the period. Finally, Clarius Group LLC grew its holdings in QUALCOMM by 24.9% in the 2nd quarter. Clarius Group LLC now owns 6,893 shares of the wireless technology company’s stock valued at $524,000 after buying an additional 1,374 shares during the period. 77.19% of the stock is owned by hedge funds and other institutional investors.
QCOM has been the subject of several recent analyst reports. Canaccord Genuity lowered their price target on QUALCOMM from $90.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $88.00 to $96.00 and gave the company a “positive” rating in a report on Thursday, May 2nd. DZ Bank restated a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. TheStreet upgraded QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. Finally, Macquarie set a $90.00 price target on QUALCOMM and gave the company a “buy” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $79.93.
Shares of NASDAQ:QCOM traded up $2.12 during trading on Friday, reaching $73.28. 10,090,600 shares of the stock were exchanged, compared to its average volume of 11,479,831. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The firm has a market cap of $86.51 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.93 and a beta of 1.62. The firm’s 50-day moving average price is $74.13 and its 200 day moving average price is $67.44.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. As a group, equities research analysts forecast that QUALCOMM, Inc. will post 2.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.38%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
In related news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total transaction of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at approximately $97,518.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.
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.
See Also: Why is Cost of Capital Important?
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.