UMB Bank N A MO decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,120 shares of the wireless technology company’s stock after selling 3,883 shares during the period. UMB Bank N A MO’s holdings in QUALCOMM were worth $3,375,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC grew its holdings in QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the period. Alpha Windward LLC grew its holdings in QUALCOMM by 6.1% during the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares during the period. Welch Group LLC grew its holdings in QUALCOMM by 2.3% during the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after purchasing an additional 69 shares during the period. American National Bank grew its holdings in QUALCOMM by 28.7% during the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after purchasing an additional 812 shares during the period. Finally, Ronald Blue & Co. LLC grew its holdings in QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 76.92% of the company’s stock.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 5,810 shares of company stock worth $301,596. Corporate insiders own 0.17% of the company’s stock.
QCOM has been the subject of a number of research analyst reports. William Blair reiterated a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th. Northland Securities upgraded QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target for the company in a report on Friday, September 15th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Deutsche Bank AG reduced their price target on QUALCOMM from $62.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, July 20th. Finally, Morgan Stanley lifted their price target on QUALCOMM from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $64.00.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
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QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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