Ironwood Investment Counsel LLC lifted its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 16.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,598 shares of the wireless technology company’s stock after purchasing an additional 665 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in QUALCOMM were worth $349,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in QCOM. 1ST Source Bank lifted its holdings in shares of QUALCOMM by 0.7% in the second quarter. 1ST Source Bank now owns 50,166 shares of the wireless technology company’s stock valued at $3,816,000 after buying an additional 338 shares during the period. Highland Capital Management LLC lifted its holdings in shares of QUALCOMM by 12.8% in the second quarter. Highland Capital Management LLC now owns 117,748 shares of the wireless technology company’s stock valued at $8,957,000 after buying an additional 13,343 shares during the period. Stoneridge Investment Partners LLC lifted its holdings in shares of QUALCOMM by 71.1% in the second quarter. Stoneridge Investment Partners LLC now owns 27,523 shares of the wireless technology company’s stock valued at $2,094,000 after buying an additional 11,434 shares during the period. ARP Americas LP lifted its holdings in shares of QUALCOMM by 622.8% in the second quarter. ARP Americas LP now owns 44,798 shares of the wireless technology company’s stock valued at $3,408,000 after buying an additional 38,600 shares during the period. Finally, LeJeune Puetz Investment Counsel LLC lifted its holdings in shares of QUALCOMM by 23.2% in the second quarter. LeJeune Puetz Investment Counsel LLC now owns 14,066 shares of the wireless technology company’s stock valued at $1,070,000 after buying an additional 2,650 shares during the period. 76.18% of the stock is owned by institutional investors.
In related news, EVP Michelle M. Sterling sold 5,560 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total transaction of $480,606.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $103,992.08. Following the sale, the senior vice president now owns 1,386 shares of the company’s stock, valued at approximately $97,518.96. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
QCOM has been the subject of several analyst reports. BidaskClub downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America reduced their target price on QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Morgan Stanley raised QUALCOMM from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $55.00 to $95.00 in a report on Tuesday, April 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of QUALCOMM in a research report on Monday, July 22nd. Finally, ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $79.93.
Shares of 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. The firm has a market cap of $82.87 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.85 and a beta of 1.62. The firm’s 50-day moving average is $74.46. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, analysts predict that QUALCOMM, Inc. will post 2.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.62 per share. 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 is 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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