Private Wealth Partners LLC raised its stake in Qualcomm Inc. (NASDAQ:QCOM) by 8.3% during the second quarter, Holdings Channel reports. The institutional investor owned 141,510 shares of the wireless technology company’s stock after buying an additional 10,850 shares during the period. Qualcomm makes up about 1.8% of Private Wealth Partners LLC’s investment portfolio, making the stock its 18th largest position. Private Wealth Partners LLC’s holdings in Qualcomm were worth $7,581,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of QCOM. CapWealth Advisors LLC boosted its position in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Qualcomm during the second quarter worth about $121,000. Delta Asset Management LLC TN boosted its position in shares of Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock worth $129,000 after buying an additional 275 shares in the last quarter. Finally, Zions Bancorporation boosted its position in shares of Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock worth $155,000 after buying an additional 2,235 shares in the last quarter. Institutional investors own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded down 1.38% during mid-day trading on Monday, reaching $67.25. 7,029,825 shares of the company traded hands. The company’s 50-day moving average is $63.68 and its 200-day moving average is $56.84. The stock has a market capitalization of $99.10 billion, a price-to-earnings ratio of 19.69 and a beta of 1.25. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $70.40.
Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The business earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. Qualcomm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Equities analysts predict that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be given a $0.53 dividend. The ex-dividend date is Monday, November 28th. This represents a $2.12 annualized dividend and a yield of 3.15%. Qualcomm’s payout ratio is currently 62.17%.
A number of research analysts recently issued reports on the stock. Cowen and Company restated an “outperform” rating and set a $74.00 price objective on shares of Qualcomm in a report on Monday. BNP Paribas restated a “hold” rating and set a $54.00 price objective on shares of Qualcomm in a report on Sunday. RBC Capital Markets restated a “sector perform” rating and set a $70.00 price objective (up previously from $59.00) on shares of Qualcomm in a report on Monday, October 3rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $70.00 price objective (up previously from $63.00) on shares of Qualcomm in a report on Monday, October 3rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Qualcomm from $59.00 to $70.00 and gave the company a “sector perform” rating in a report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Qualcomm presently has a consensus rating of “Buy” and a consensus price target of $64.05.
In other Qualcomm news, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $62.37, for a total value of $124,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total value of $427,000.00. Following the completion of the sale, the director now owns 12,765 shares of the company’s stock, valued at approximately $778,665. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
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.