Ally Financial Inc. continued to hold its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,000 shares of the wireless technology company’s stock at the end of the second quarter. Ally Financial Inc.’s holdings in QUALCOMM were worth $4,859,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of QCOM. Asset Planning Services Inc. LA ADV lifted its position in shares of QUALCOMM by 4.2% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 49,315 shares of the wireless technology company’s stock worth $2,828,000 after buying an additional 1,995 shares in the last quarter. Holderness Investments Co. bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $548,000. State of Wisconsin Investment Board lifted its position in shares of QUALCOMM by 1.5% during the 1st quarter. State of Wisconsin Investment Board now owns 1,397,184 shares of the wireless technology company’s stock worth $80,115,000 after buying an additional 20,538 shares in the last quarter. Jackson Wealth Management LLC bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $2,093,000. Finally, Smith Moore & CO. lifted its position in shares of QUALCOMM by 12.6% during the 1st quarter. Smith Moore & CO. now owns 9,485 shares of the wireless technology company’s stock worth $544,000 after buying an additional 1,058 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders have sold a total of 28,937 shares of company stock valued at $1,787,969 over the last ninety days. 0.17% of the stock is currently owned by insiders.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at $68.91 on Friday. 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. The stock has a market cap of $101,584.72, a price-to-earnings ratio of 18.23, a PEG ratio of 1.93 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the firm posted $1.28 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. research analysts predict that QUALCOMM Incorporated will post 3.07 earnings per share for the current fiscal year.
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 issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is currently 138.18%.
Several brokerages have recently issued reports on QCOM. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. BMO Capital Markets restated a “market perform” rating and set a $55.00 price target on shares of QUALCOMM in a research note on Thursday, August 24th. UBS AG decreased their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Mizuho restated a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Finally, Wells Fargo & Company lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.42.
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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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