Carroll Financial Associates Inc. increased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 24.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,839 shares of the wireless technology company’s stock after acquiring an additional 1,519 shares during the quarter. Carroll Financial Associates Inc.’s holdings in QUALCOMM were worth $596,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in QCOM. HL Financial Services LLC lifted its holdings in QUALCOMM by 0.6% in the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock valued at $1,162,000 after acquiring an additional 128 shares during the last quarter. Harrington Investments INC increased its position in shares of QUALCOMM by 1.1% during the first quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after acquiring an additional 150 shares during the period. Evolution Wealth Advisors LLC increased its position in shares of QUALCOMM by 4.6% during the first quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 154 shares during the period. Atlas Brown Inc. increased its position in shares of QUALCOMM by 3.5% during the first quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock worth $303,000 after acquiring an additional 179 shares during the period. Finally, Berman Capital Advisors LLC increased its position in shares of QUALCOMM by 18.3% during the first quarter. Berman Capital Advisors LLC now owns 1,166 shares of the wireless technology company’s stock worth $65,000 after acquiring an additional 180 shares during the period. 77.19% of the stock is owned by institutional investors.
In related news, SVP Erin L. Polek sold 1,478 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the completion of the sale, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at $97,518.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.
Several equities analysts recently commented on QCOM shares. DZ Bank reissued a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. Macquarie set a $90.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research note on Thursday, May 23rd. Argus upped their price objective on shares of QUALCOMM to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Sanford C. Bernstein set a $60.00 target price on shares of QUALCOMM and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, Edward Jones downgraded 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. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $79.93.
Shares of NASDAQ:QCOM traded up $0.28 during trading on Thursday, reaching $71.16. 7,130,623 shares of the company’s stock traded hands, compared to its average volume of 16,693,262. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.61. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $90.34. The company has a 50 day moving average of $74.18 and a 200-day moving average of $67.41. The stock has a market capitalization of $86.17 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.90 and a beta of 1.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. QUALCOMM’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. Equities research analysts predict that QUALCOMM, Inc. will post 2.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is currently 77.74%.
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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