Chesley Taft & Associates LLC lifted its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 17,635 shares of the wireless technology company’s stock after acquiring an additional 450 shares during the quarter. Chesley Taft & Associates LLC’s holdings in QUALCOMM were worth $1,341,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. ACG Wealth raised its holdings in QUALCOMM by 2.6% during the 1st quarter. ACG Wealth now owns 7,749 shares of the wireless technology company’s stock valued at $442,000 after buying an additional 197 shares during the last quarter. Conning Inc. raised its holdings in QUALCOMM by 5.7% during the 1st quarter. Conning Inc. now owns 826,550 shares of the wireless technology company’s stock valued at $47,138,000 after buying an additional 44,907 shares during the last quarter. World Asset Management Inc increased its position in QUALCOMM by 18.5% during the 1st quarter. World Asset Management Inc now owns 91,562 shares of the wireless technology company’s stock valued at $5,222,000 after purchasing an additional 14,322 shares during the period. Regent Investment Management LLC increased its position in QUALCOMM by 12.5% during the 1st quarter. Regent Investment Management LLC now owns 4,492 shares of the wireless technology company’s stock valued at $256,000 after purchasing an additional 500 shares during the period. Finally, OLD Second National Bank of Aurora increased its position in QUALCOMM by 4.7% during the 1st quarter. OLD Second National Bank of Aurora now owns 37,027 shares of the wireless technology company’s stock valued at $2,112,000 after purchasing an additional 1,661 shares during the period. Hedge funds and other institutional investors own 76.18% of the company’s stock.
In related news, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the sale, the senior vice president now directly owns 1,386 shares in the company, valued at $97,518.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.A number of research analysts have issued reports on QCOM shares. Cfra set a $80.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research report on Thursday, May 23rd. Bank of America cut their price objective on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Raymond James raised shares of QUALCOMM from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $85.00 to $115.00 in a research report on Thursday, May 2nd. Goldman Sachs Group assumed coverage on shares of QUALCOMM in a research report on Thursday, May 23rd. They set a “neutral” rating and a $73.00 price objective on the stock. Finally, Barclays downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $90.00 to $75.00 in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $79.93.
NASDAQ QCOM opened at $71.26 on Friday. 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 business’s 50 day moving average price is $74.46. The company has a market cap of $86.63 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same period last year, the firm posted $1.01 EPS. The company’s revenue was down 12.7% on a year-over-year basis. Sell-side analysts predict that QUALCOMM, Inc. will post 2.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is presently 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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