Pure Financial Advisors Inc. cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,697 shares of the wireless technology company’s stock after selling 1,206 shares during the quarter. Pure Financial Advisors Inc.’s holdings in QUALCOMM were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Addison Capital Co grew its stake in shares of QUALCOMM by 1.0% in the second quarter. Addison Capital Co now owns 44,800 shares of the wireless technology company’s stock valued at $3,408,000 after buying an additional 465 shares in the last quarter. Peoples Financial Services CORP. boosted its holdings in QUALCOMM by 4.5% in the second quarter. Peoples Financial Services CORP. now owns 8,719 shares of the wireless technology company’s stock valued at $663,000 after purchasing an additional 373 shares during the last quarter. Heritage Investors Management Corp boosted its holdings in QUALCOMM by 2.0% in the second quarter. Heritage Investors Management Corp now owns 33,093 shares of the wireless technology company’s stock valued at $2,517,000 after purchasing an additional 642 shares during the last quarter. Bogart Wealth LLC boosted its holdings in QUALCOMM by 2.0% in the second quarter. Bogart Wealth LLC now owns 10,546 shares of the wireless technology company’s stock valued at $802,000 after purchasing an additional 204 shares during the last quarter. Finally, Unison Advisors LLC boosted its holdings in QUALCOMM by 1.1% in the second quarter. Unison Advisors LLC now owns 19,553 shares of the wireless technology company’s stock valued at $1,487,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 76.18% of the company’s stock.
In related news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $70.36, for a total transaction of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares in the company, valued at $97,518.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 5,560 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.QCOM opened at $71.26 on Friday. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34. The company’s fifty day moving average price is $74.46. 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 firm has a market capitalization of $86.63 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company 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 business’s revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. As a group, research analysts forecast that QUALCOMM, Inc. will post 2.88 earnings per share for the current year.
The firm 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. The ex-dividend date is Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. QUALCOMM’s payout ratio is presently 77.74%.
A number of research analysts recently commented on QCOM shares. Macquarie set a $90.00 price target on QUALCOMM and gave the company a “buy” rating in a report on Thursday, May 23rd. DZ Bank reaffirmed a “sell” rating on shares of QUALCOMM in a report on Friday, August 2nd. Canaccord Genuity reduced their target price on QUALCOMM from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Sanford C. Bernstein set a $60.00 target price on QUALCOMM and gave the stock a “hold” rating in a report on Wednesday, April 17th. Finally, Edward Jones downgraded QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price target on the stock. in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and an average target price of $79.93.
QUALCOMM Company Profile
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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