Keybank National Association OH trimmed its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 193,547 shares of the wireless technology company’s stock after selling 7,579 shares during the period. Keybank National Association OH’s holdings in QUALCOMM were worth $14,764,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Fulcrum Capital LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $290,000. Hedeker Wealth LLC increased its position in QUALCOMM by 1.7% in the 3rd quarter. Hedeker Wealth LLC now owns 28,618 shares of the wireless technology company’s stock worth $2,183,000 after purchasing an additional 465 shares during the last quarter. Roanoke Asset Management Corp NY increased its position in QUALCOMM by 1.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 48,080 shares of the wireless technology company’s stock worth $3,668,000 after purchasing an additional 585 shares during the last quarter. Beese Fulmer Investment Management Inc. acquired a new position in QUALCOMM in the 3rd quarter worth about $1,402,000. Finally, Mackay Shields LLC increased its position in QUALCOMM by 122.4% in the 3rd quarter. Mackay Shields LLC now owns 643,678 shares of the wireless technology company’s stock worth $49,100,000 after purchasing an additional 354,228 shares during the last quarter. 78.30% of the stock is owned by institutional investors and hedge funds.
Shares of QCOM stock traded up $3.35 during mid-day trading on Friday, reaching $93.33. The stock had a trading volume of 973,944 shares, compared to its average volume of 6,227,865. The firm’s 50 day simple moving average is $78.64 and its 200 day simple moving average is $76.41. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $92.50. The firm has a market cap of $103.89 billion, a PE ratio of 32.86, a P/E/G ratio of 2.03 and a beta of 1.59.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter last year, the company earned $0.90 EPS. The company’s quarterly revenue was down 17.2% on a year-over-year basis. Sell-side analysts forecast that QUALCOMM, Inc. will post 3.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.62 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.66%. QUALCOMM’s dividend payout ratio is currently 87.32%.
In other news, Director Mark D. Mclaughlin acquired 2,705 shares of QUALCOMM stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the transaction, the director now owns 5,220 shares of the company’s stock, valued at $385,444.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Cristiano R. Amon sold 8,611 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.03, for a total value of $689,138.33. Following the completion of the sale, the president now owns 50,434 shares of the company’s stock, valued at approximately $4,036,233.02. The disclosure for this sale can be found here. Insiders sold a total of 19,118 shares of company stock valued at $1,477,392 in the last quarter. Corporate insiders own 0.11% of the company’s stock.
QCOM has been the topic of a number of analyst reports. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Bank of America lowered their price objective on QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. UBS Group increased their price objective on QUALCOMM from $73.00 to $87.00 and gave the company a “neutral” rating in a report on Thursday. Mizuho increased their price objective on QUALCOMM from $68.00 to $80.00 and gave the company a “positive” rating in a report on Thursday. Finally, Argus increased their price objective on QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $85.18.
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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