Tufton Capital Management raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,722 shares of the wireless technology company’s stock after buying an additional 855 shares during the period. Tufton Capital Management’s holdings in QUALCOMM were worth $6,444,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in QCOM. HL Financial Services LLC lifted its position in shares of QUALCOMM by 0.6% in the 1st quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock worth $1,162,000 after purchasing an additional 128 shares during the period. Lindbrook Capital LLC increased its stake in shares of QUALCOMM by 5.2% in the 2nd quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock worth $214,000 after acquiring an additional 139 shares in the last quarter. Harrington Investments INC increased its stake in shares of QUALCOMM by 1.1% in the 1st quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after acquiring an additional 150 shares in the last quarter. Evolution Wealth Advisors LLC increased its stake in shares of QUALCOMM by 4.6% in the 1st quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 154 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in QUALCOMM by 2.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 6,419 shares of the wireless technology company’s stock valued at $474,000 after purchasing an additional 156 shares in the last quarter. 76.18% of the stock is owned by institutional investors.
QCOM has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Citigroup raised their price objective on shares of QUALCOMM from $55.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Canaccord Genuity reduced their price objective on shares of QUALCOMM from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Mizuho restated a “hold” rating and set a $68.00 price objective on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Edward Jones lowered shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price objective for the company. in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $79.93.
NASDAQ:QCOM traded up $0.26 during trading hours on Wednesday, hitting $68.43. 442,311 shares of the stock traded hands, compared to its average volume of 12,250,755. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34. The stock has a market capitalization of $86.49 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.62. The firm has a 50 day moving average of $74.51.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, research analysts forecast that QUALCOMM, Inc. will post 2.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, September 11th. QUALCOMM’s payout ratio is currently 77.74%.
In other news, SVP Erin L. Polek sold 1,478 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the sale, the senior vice president now owns 1,386 shares in the company, valued at $97,518.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donald J. Rosenberg sold 7,141 shares of QUALCOMM stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $84.56, for a total transaction of $603,842.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,179 shares of company stock worth $1,188,441. Company insiders own 0.11% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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