Advisory Services Network LLC raised its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 14.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,498 shares of the wireless technology company’s stock after buying an additional 2,906 shares during the period. Advisory Services Network LLC’s holdings in Qualcomm were worth $1,259,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Alexandria Capital LLC boosted its stake in shares of Qualcomm by 20.8% in the first quarter. Alexandria Capital LLC now owns 28,191 shares of the wireless technology company’s stock worth $1,442,000 after buying an additional 4,859 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Qualcomm during the first quarter worth approximately $1,691,000. VNBTrust National Association acquired a new stake in shares of Qualcomm during the first quarter worth approximately $304,000. Aperio Group LLC boosted its stake in shares of Qualcomm by 24.2% in the first quarter. Aperio Group LLC now owns 551,772 shares of the wireless technology company’s stock worth $28,218,000 after buying an additional 107,485 shares during the last quarter. Finally, Commonwealth Equity Services Inc boosted its stake in shares of Qualcomm by 11.7% in the first quarter. Commonwealth Equity Services Inc now owns 289,314 shares of the wireless technology company’s stock worth $14,795,000 after buying an additional 30,203 shares during the last quarter. Institutional investors own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 1.72% during trading on Tuesday, reaching $66.09. 8,895,153 shares of the company’s stock traded hands. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40. The company has a 50 day moving average price of $63.81 and a 200-day moving average price of $57.04. The stock has a market cap of $97.39 billion, a P/E ratio of 19.35 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. Qualcomm’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS. On average, equities research analysts expect that Qualcomm Inc. will post $4.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, November 28th. Qualcomm’s payout ratio is currently 62.17%.
Several analysts have issued reports on QCOM shares. Argus reiterated a “buy” rating and issued a $73.00 target price (up from $70.00) on shares of Qualcomm in a research note on Friday, September 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $53.00 target price on shares of Qualcomm in a research note on Sunday, October 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $70.00 target price (up from $63.00) on shares of Qualcomm in a research note on Monday, October 3rd. Royal Bank Of Canada increased their target price on shares of Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, October 3rd. Finally, Vetr cut shares of Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research note on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Qualcomm presently has a consensus rating of “Buy” and a consensus price target of $64.05.
In related news, EVP Matthew S. Grob sold 33,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total value of $1,975,050.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the transaction, the director now owns 12,765 shares in the company, valued at approximately $778,665. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Inc. (NASDAQ:QCOM).
Receive News & Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related companies with MarketBeat.com's FREE daily email newsletter.