Lyons Wealth Management LLC. increased its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 45,087 shares of the wireless technology company’s stock after buying an additional 429 shares during the period. Qualcomm accounts for approximately 3.6% of Lyons Wealth Management LLC.’s holdings, making the stock its 4th largest position. Lyons Wealth Management LLC.’s holdings in Qualcomm were worth $2,415,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Orbis Allan Gray Ltd acquired a new stake in Qualcomm during the first quarter valued at approximately $865,645,000. Ameriprise Financial Inc. increased its stake in Qualcomm by 128.3% in the second quarter. Ameriprise Financial Inc. now owns 16,884,427 shares of the wireless technology company’s stock valued at $904,477,000 after buying an additional 9,487,905 shares during the period. Jennison Associates LLC acquired a new stake in Qualcomm during the second quarter valued at approximately $393,301,000. Manning & Napier Advisors LLC increased its stake in Qualcomm by 40.9% in the first quarter. Manning & Napier Advisors LLC now owns 9,416,741 shares of the wireless technology company’s stock valued at $481,571,000 after buying an additional 2,735,044 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in Qualcomm during the second quarter valued at approximately $136,669,000. Institutional investors and hedge funds own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) opened at 62.75 on Friday. The firm has a 50-day moving average price of $62.52 and a 200-day moving average price of $55.82. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $64.00. The company has a market capitalization of $92.47 billion, a PE ratio of 18.37 and a beta of 1.22.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The firm earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company earned $0.99 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts anticipate that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were issued a $0.53 dividend. The ex-dividend date was Monday, August 29th. This represents a $2.12 annualized dividend and a yield of 3.38%. Qualcomm’s dividend payout ratio (DPR) is currently 62.17%.
A number of equities analysts have commented on QCOM shares. Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Qualcomm in a research report on Thursday. Zacks Investment Research downgraded shares of Qualcomm from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and set a $65.00 price objective on shares of Qualcomm in a research report on Tuesday, September 20th. Vetr downgraded shares of Qualcomm from a “strong-buy” rating to a “buy” rating and set a $69.01 price objective for the company. in a research report on Monday, September 19th. Finally, Sanford C. Bernstein restated a “hold” rating on shares of Qualcomm in a research report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $62.02.
In other news, EVP James H. Thompson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $60.94, for a total transaction of $609,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,497 shares in the company, valued at $3,625,747.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raymond V. Dittamore sold 7,000 shares of the company’s stock in a transaction that occurred 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 owns 12,765 shares of the company’s stock, valued at $778,665. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate 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.
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