Green Square Capital LLC boosted its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 1,455.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,349 shares of the wireless technology company’s stock after buying an additional 77,055 shares during the period. Qualcomm makes up about 1.1% of Green Square Capital LLC’s holdings, making the stock its 26th largest position. Green Square Capital LLC’s holdings in Qualcomm were worth $4,411,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Orbis Allan Gray Ltd purchased a new position in shares of Qualcomm during the first quarter worth approximately $865,645,000. Bank of Montreal Can purchased a new position in shares of Qualcomm during the second quarter worth approximately $87,048,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Qualcomm by 410.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,894,139 shares of the wireless technology company’s stock worth $96,866,000 after buying an additional 1,523,303 shares during the last quarter. Douglas Lane & Associates LLC purchased a new position in shares of Qualcomm during the first quarter worth approximately $60,469,000. Finally, Loomis Sayles & Co. L P raised its position in shares of Qualcomm by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 14,010,095 shares of the wireless technology company’s stock worth $716,476,000 after buying an additional 1,003,767 shares during the last quarter. 78.05% of the stock is owned by institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) traded up 1.56% on Friday, reaching $68.50. The company had a trading volume of 34,879,502 shares. Qualcomm Inc. has a 52-week low of $42.24 and a 52-week high of $70.40. The stock has a market capitalization of $100.94 billion, a PE ratio of 20.06 and a beta of 1.22. The stock has a 50 day moving average price of $62.97 and a 200 day moving average price of $56.28.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. Analysts expect that Qualcomm Inc. will post $4.30 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.12 annualized dividend and a yield of 3.09%. Qualcomm’s dividend payout ratio is currently 62.17%.
A number of brokerages have issued reports on QCOM. Vetr upgraded Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 price objective on the stock in a research report on Monday, September 12th. Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Qualcomm in a research report on Monday, August 15th. Zacks Investment Research upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday, July 26th. Mizuho upgraded Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday. Finally, TheStreet downgraded Qualcomm from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Qualcomm currently has a consensus rating of “Buy” and a consensus price target of $63.02.
In other Qualcomm news, EVP Matthew S. Grob sold 33,000 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew S. Grob sold 74,000 shares of the stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $66.63, for a total transaction of $4,930,620.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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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