Amica Retiree Medical Trust cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 19.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,182 shares of the wireless technology company’s stock after selling 1,234 shares during the quarter. Amica Retiree Medical Trust’s holdings in QUALCOMM were worth $394,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Weaver Consulting Group acquired a new stake in QUALCOMM in the first quarter valued at $25,000. Farmers National Bank acquired a new stake in QUALCOMM in the first quarter valued at $26,000. Meridian Wealth Management LLC acquired a new stake in QUALCOMM in the first quarter valued at $26,000. Ibex Wealth Advisors acquired a new stake in QUALCOMM in the second quarter valued at $28,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in QUALCOMM in the first quarter valued at $29,000. 79.55% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on QCOM shares. TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (up previously from $96.00) on shares of QUALCOMM in a research report on Thursday, May 2nd. Morgan Stanley set a $89.00 price target on QUALCOMM and gave the company a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on QUALCOMM from $88.00 to $96.00 and gave the company a “positive” rating in a research report on Thursday, May 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $84.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $79.69.
Shares of NASDAQ:QCOM opened at $74.35 on Thursday. The firm has a market cap of $89.38 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.03 and a beta of 1.62. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. The stock’s 50-day moving average price is $73.68 and its two-hundred day moving average price is $68.65.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating the 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 company’s revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. As a group, research analysts forecast that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is currently 77.74%.
In other news, SVP Erin L. Polek sold 1,478 shares of QUALCOMM 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 transaction, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at approximately $97,518.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.
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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