Gofen & Glossberg LLC IL lessened its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 165,502 shares of the wireless technology company’s stock after selling 4,583 shares during the period. Gofen & Glossberg LLC IL’s holdings in QUALCOMM were worth $12,590,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Weaver Consulting Group bought a new stake in QUALCOMM during the 1st quarter worth approximately $25,000. Farmers National Bank bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $26,000. Meridian Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $29,000. Finally, Field & Main Bank acquired a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $32,000. Institutional investors own 76.18% of the company’s stock.
Shares of QUALCOMM stock opened at $71.26 on Friday. The stock’s fifty day moving average is $74.46. 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 market capitalization of $86.63 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.81 and a beta of 1.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was down 12.7% on a year-over-year basis. On average, sell-side analysts anticipate that QUALCOMM, Inc. will post 2.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. QUALCOMM’s dividend payout ratio is presently 77.74%.
In related news, EVP Michelle M. Sterling sold 5,560 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. Also, SVP Erin L. Polek sold 1,478 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 1,386 shares in the company, valued at $97,518.96. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on the company. Macquarie set a $90.00 price objective on QUALCOMM and gave the company a “buy” rating in a report on Thursday, May 23rd. Barclays downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $90.00 to $75.00 in a report on Thursday, July 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $84.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. Sanford C. Bernstein set a $60.00 price objective on QUALCOMM and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, TheStreet upgraded QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and an average price target of $79.93.
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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