D.A. Davidson & CO. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 614,768 shares of the wireless technology company’s stock after purchasing an additional 35,996 shares during the period. QUALCOMM accounts for 0.8% of D.A. Davidson & CO.’s investment portfolio, making the stock its 29th biggest position. D.A. Davidson & CO.’s holdings in QUALCOMM were worth $33,947,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Trustmark National Bank Trust Department grew its position in shares of QUALCOMM by 2.7% in the second quarter. Trustmark National Bank Trust Department now owns 49,650 shares of the wireless technology company’s stock valued at $2,742,000 after purchasing an additional 1,315 shares during the period. Abbot Financial Management Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at $833,000. UBS Asset Management Americas Inc. grew its position in shares of QUALCOMM by 3.6% in the second quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock valued at $257,798,000 after purchasing an additional 160,226 shares during the period. Trilogy Global Advisors LP grew its position in shares of QUALCOMM by 9.1% in the second quarter. Trilogy Global Advisors LP now owns 1,736,206 shares of the wireless technology company’s stock valued at $95,873,000 after purchasing an additional 144,359 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of QUALCOMM by 236.2% in the second quarter. Lazard Asset Management LLC now owns 1,029,374 shares of the wireless technology company’s stock valued at $56,841,000 after purchasing an additional 723,157 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on QCOM shares. BidaskClub downgraded QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, July 25th. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Finally, Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $65.42.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $66.47 on Tuesday. The company has a market capitalization of $97,990.00, a P/E ratio of 17.65, a PEG ratio of 1.87 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $48.92 and a fifty-two week high of $70.24. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 2.19% and a net margin of 2.86%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. sell-side analysts predict that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
In other news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 21,097 shares of company stock valued at $1,266,138 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.
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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