Northern Capital Management LLC cut its position in Qualcomm Inc. (NASDAQ:QCOM) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 62,060 shares of the wireless technology company’s stock after selling 360 shares during the period. Qualcomm makes up approximately 1.5% of Northern Capital Management LLC’s portfolio, making the stock its 17th largest position. Northern Capital Management LLC’s holdings in Qualcomm were worth $3,325,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. CapWealth Advisors LLC boosted its stake 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 during the last quarter. Joel Isaacson & Co. LLC boosted its stake 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 during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Qualcomm during the second quarter worth about $121,000. Delta Asset Management LLC TN boosted its stake 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 during the last quarter. Finally, Zions Bancorporation boosted its stake 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 during the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% during trading on Friday, hitting $68.19. The stock had a trading volume of 8,398,099 shares. The stock has a 50 day moving average of $63.68 and a 200 day moving average of $56.84. The firm has a market capitalization of $100.49 billion, a P/E ratio of 19.97 and a beta of 1.25. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 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 company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Qualcomm’s revenue was up 2.9% on a year-over-year basis. Equities research analysts expect that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.11%. Qualcomm’s dividend payout ratio (DPR) is currently 62.17%.
QCOM has been the subject of a number of recent analyst reports. Vetr raised Qualcomm from a “hold” rating to a “buy” rating and set a $58.08 target price for the company in a research report on Monday, June 13th. Morgan Stanley reaffirmed a “buy” rating on shares of Qualcomm in a research report on Wednesday, June 15th. Sanford C. Bernstein cut Qualcomm from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $53.55 to $55.00 in a research report on Thursday, June 30th. Evercore ISI cut Qualcomm from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $55.00 in a research report on Friday, July 1st. Finally, KeyCorp reaffirmed a “buy” rating and set a $59.00 target price on shares of Qualcomm in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.05.
In other Qualcomm news, EVP Matthew S. Grob sold 2,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $68.18, for a total value of $136,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond V. Dittamore sold 18,000 shares of the company’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $68.39, for a total value of $1,231,020.00. Following the completion of the transaction, the director now directly owns 5,813 shares of the company’s stock, valued at approximately $397,551.07. 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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