Whalerock Point Partners LLC lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,870 shares of the wireless technology company’s stock after selling 1,250 shares during the quarter. Whalerock Point Partners LLC’s holdings in QUALCOMM were worth $1,870,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Gratus Capital LLC boosted its holdings in QUALCOMM by 5.5% during the 2nd quarter. Gratus Capital LLC now owns 91,342 shares of the wireless technology company’s stock valued at $5,044,000 after acquiring an additional 4,729 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of QUALCOMM by 7.3% in the 2nd quarter. Principal Financial Group Inc. now owns 2,289,686 shares of the wireless technology company’s stock worth $126,437,000 after buying an additional 156,005 shares during the period. BKS Advisors LLC purchased a new stake in shares of QUALCOMM in the 2nd quarter worth $245,000. Sullivan Bruyette Speros & Blaney LLC lifted its holdings in shares of QUALCOMM by 7.4% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,761 shares of the wireless technology company’s stock worth $208,000 after buying an additional 259 shares during the period. Finally, Motco lifted its holdings in shares of QUALCOMM by 6.3% in the 2nd quarter. Motco now owns 122,075 shares of the wireless technology company’s stock worth $6,741,000 after buying an additional 7,257 shares during the period. Institutional investors own 76.77% of the company’s stock.
QCOM has been the subject of several research reports. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a report on Monday, July 10th. Finally, Cowen and Company reiterated an “outperform” rating on shares of QUALCOMM in a report on Monday, July 10th. Two equities research 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’s stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $63.80.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.11. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.47%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 5,837 shares of company stock worth $303,249 in the last 90 days. 0.17% of the stock is currently owned by insiders.
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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