Compass Capital Management Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,749 shares of the wireless technology company’s stock after acquiring an additional 21,224 shares during the quarter. QUALCOMM accounts for 3.5% of Compass Capital Management Inc.’s holdings, making the stock its 24th biggest position. Compass Capital Management Inc.’s holdings in QUALCOMM were worth $21,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC increased its stake in shares of QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after acquiring an additional 250 shares during the last quarter. Alpha Windward LLC increased its stake in shares of QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after acquiring an additional 153 shares during the last quarter. Welch Group LLC increased its stake in shares of QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after acquiring an additional 69 shares during the last quarter. Commonwealth Financial Services LLC increased its stake in shares of QUALCOMM by 499.5% in the 1st quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after acquiring an additional 3,022 shares during the last quarter. Finally, American National Bank increased its stake in shares of QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after acquiring an additional 812 shares during the last quarter. 77.03% of the stock is owned by institutional investors.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders have sold a total of 28,995 shares of company stock worth $1,587,390 in the last ninety days. Insiders own 0.17% of the company’s stock.
A number of analysts have recently commented on the company. Northland Securities raised QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target for the company in a research note on Friday. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, September 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price target on shares of QUALCOMM in a research note on Thursday, August 24th. Finally, Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.96.
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QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.19 on Friday. The company has a market cap of $77.04 billion, a PE ratio of 19.99 and a beta of 1.29. The firm’s 50-day moving average price is $52.11 and its 200 day moving average price is $55.07. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.37%. QUALCOMM’s dividend payout ratio is presently 87.36%.
QUALCOMM Company Profile
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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