Sterneck Capital Management LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,035 shares of the wireless technology company’s stock after selling 299 shares during the quarter. QUALCOMM comprises about 1.8% of Sterneck Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Sterneck Capital Management LLC’s holdings in QUALCOMM were worth $2,984,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. United Asset Strategies Inc. purchased a new stake in QUALCOMM during the second quarter valued at $5,249,000. Stephens Inc. AR raised its stake in shares of QUALCOMM by 10.8% in the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after acquiring an additional 11,232 shares during the period. Stifel Financial Corp raised its stake in shares of QUALCOMM by 47.4% in the first quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock valued at $168,002,000 after acquiring an additional 943,026 shares during the period. Private Asset Management Inc. raised its stake in shares of QUALCOMM by 0.5% in the second quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock valued at $40,696,000 after acquiring an additional 4,028 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake 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 acquiring an additional 160,226 shares during the period. 76.66% of the stock is currently owned by institutional investors.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $65.18 on Tuesday. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $94,700.36, a PE ratio of 17.00, a PEG ratio of 1.82 and a beta of 1.39. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $70.24.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. research analysts predict that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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 yield of 3.50%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated 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. Over the last quarter, insiders have sold 29,427 shares of company stock worth $1,827,995. 0.24% of the stock is owned by company insiders.
Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and increased their target price for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, November 27th. Finally, Royal Bank of Canada increased their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $66.02.
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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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