Marathon Capital Management held its stake in Qualcomm Inc. (NASDAQ:QCOM) during the second quarter, Holdings Channel reports. The fund owned 33,313 shares of the wireless technology company’s stock at the end of the second quarter. Qualcomm accounts for approximately 0.9% of Marathon Capital Management’s investment portfolio, making the stock its 17th largest position. Marathon Capital Management’s holdings in Qualcomm were worth $1,785,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. First Republic Investment Management Inc. raised its stake in Qualcomm by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 844,615 shares of the wireless technology company’s stock worth $43,194,000 after buying an additional 27,934 shares during the last quarter. Conning Inc. raised its stake in Qualcomm by 4.2% in the second quarter. Conning Inc. now owns 475,737 shares of the wireless technology company’s stock worth $25,485,000 after buying an additional 19,357 shares during the last quarter. Orbis Allan Gray Ltd acquired a new stake in Qualcomm during the first quarter worth $865,645,000. Legal & General Group Plc raised its stake in Qualcomm by 2.4% in the first quarter. Legal & General Group Plc now owns 7,071,165 shares of the wireless technology company’s stock worth $361,632,000 after buying an additional 166,659 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Qualcomm by 13.2% in the first quarter. Envestnet Asset Management Inc. now owns 816,491 shares of the wireless technology company’s stock worth $41,755,000 after buying an additional 95,268 shares during the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) opened at 68.50 on Monday. The stock has a market cap of $100.94 billion, a price-to-earnings ratio of 20.06 and a beta of 1.25. Qualcomm Inc. has a 12 month low of $42.24 and a 12 month high of $70.40. The firm’s 50-day moving average price is $62.97 and its 200 day moving average price is $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 analysts’ consensus estimates of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Qualcomm Inc. will post $4.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Monday, August 29th. Qualcomm’s payout ratio is 62.17%.
QCOM has been the topic of a number of recent analyst reports. Vetr upgraded shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research report on Monday, September 26th. Zacks Investment Research downgraded shares of Qualcomm from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. BMO Capital Markets restated an “underperform” rating and issued a $53.00 price target on shares of Qualcomm in a research report on Sunday. Standpoint Research upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Thursday, August 25th. Finally, Canaccord Genuity restated a “buy” rating and issued a $70.00 price target on shares of Qualcomm in a research report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Qualcomm has an average rating of “Buy” and an average target price of $63.44.
In other news, EVP Matthew S. Grob sold 74,000 shares of the stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $66.63, for a total transaction of $4,930,620.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $61.00, for a total value of $427,000.00. Following the transaction, the director now directly owns 12,765 shares in the company, valued at approximately $778,665. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
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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