1ST Source Bank increased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 0.7% in the second quarter, Holdings Channel.com reports. The firm owned 50,166 shares of the wireless technology company’s stock after purchasing an additional 338 shares during the quarter. 1ST Source Bank’s holdings in QUALCOMM were worth $3,816,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in QCOM. ACG Wealth boosted its position in QUALCOMM by 2.6% in 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 period. Conning Inc. boosted its position in QUALCOMM by 5.7% in 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 period. World Asset Management Inc boosted its position in QUALCOMM by 18.5% in 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 buying an additional 14,322 shares during the period. Regent Investment Management LLC boosted its position in QUALCOMM by 12.5% in the 1st quarter. Regent Investment Management LLC now owns 4,492 shares of the wireless technology company’s stock valued at $256,000 after buying an additional 500 shares during the period. Finally, OLD Second National Bank of Aurora boosted its position in QUALCOMM by 4.7% in 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 buying an additional 1,661 shares during the period. 76.18% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:QCOM opened at $71.26 on Friday. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $90.34. 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 company has a market cap of $86.63 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 1.81 and a beta of 1.62. The firm has a 50-day simple moving average of $74.46.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. Sell-side analysts expect that QUALCOMM, Inc. will post 2.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, September 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.48%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
QCOM has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and issued a $84.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday, August 1st. Edward Jones cut shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price objective for the company. in a research report on Thursday, May 23rd. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Finally, BidaskClub cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $79.93.
In related news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the completion of the transaction, the senior vice president now owns 1,386 shares in the company, valued at approximately $97,518.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 5,560 shares of the business’s 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 disclosure for this sale can be found here. 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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