Farmers Trust Co. cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,250 shares of the wireless technology company’s stock after selling 210 shares during the quarter. Farmers Trust Co.’s holdings in QUALCOMM were worth $323,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Deprince Race & Zollo Inc. raised its stake in QUALCOMM by 4.4% during the fourth quarter. Deprince Race & Zollo Inc. now owns 487,797 shares of the wireless technology company’s stock valued at $27,761,000 after buying an additional 20,448 shares in the last quarter. Comerica Securities Inc. raised its stake in QUALCOMM by 1.3% during the fourth quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock valued at $1,615,000 after buying an additional 370 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $36,000. Requisite Energy Fund I LP acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $65,000. Finally, Sontag Advisory LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 77.19% of the company’s stock.
QCOM has been the topic of several research reports. Canaccord Genuity cut their price objective on QUALCOMM from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. BidaskClub raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday. Barclays lowered QUALCOMM from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $90.00 to $75.00 in a report on Thursday, July 18th. TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. Finally, Raymond James raised QUALCOMM from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $85.00 to $115.00 in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Buy” and an average target price of $79.93.
In other news, SVP Erin L. Polek sold 1,478 shares of the 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 owns 1,386 shares in the company, valued at $97,518.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website
. 0.11% of the stock is owned by corporate insiders.
Shares of NASDAQ QCOM opened at $71.16 on Friday. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34. The stock has a fifty day moving average price of $74.18 and a two-hundred day moving average price of $67.41. The firm has a market cap of $86.17 billion, a P/E ratio of 22.31, a PEG ratio of 1.90 and a beta of 1.62. 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 (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, research 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. Stockholders of record on Thursday, September 12th will be issued a $0.62 dividend. 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 3.49%. QUALCOMM’s payout ratio is currently 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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