Sigma Investment Counselors Inc. cut its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 6.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,383 shares of the wireless technology company’s stock after selling 2,488 shares during the period. Sigma Investment Counselors Inc.’s holdings in Qualcomm were worth $2,003,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. CapWealth Advisors LLC raised its position in 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 period. Joel Isaacson & Co. LLC raised its position in 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 period. Americafirst Capital Management LLC purchased a new position in Qualcomm during the second quarter worth about $121,000. Delta Asset Management LLC TN raised its position in 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 period. Finally, Zions Bancorporation raised its position in 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 period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 0.47% during midday trading on Wednesday, reaching $65.79. The company’s stock had a trading volume of 5,414,654 shares. The company has a market cap of $96.95 billion, a price-to-earnings ratio of 19.27 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 stock has a 50-day moving average of $64.32 and a 200 day moving average of $57.64.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data 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. The company had revenue of $5.60 billion for 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%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, analysts predict that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio is currently 62.17%.
A number of research analysts have issued reports on QCOM shares. Vetr upgraded shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 target price on the stock in a report on Monday, September 12th. Canaccord Genuity restated a “buy” rating and issued a $70.00 target price on shares of Qualcomm in a report on Monday, August 15th. Zacks Investment Research upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, July 26th. Mizuho upgraded shares of Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, September 29th. Finally, TheStreet lowered shares of Qualcomm from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $64.12.
In other news, President Derek K. Aberle sold 22,653 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $61.95, for a total transaction of $1,403,353.35. Following the transaction, the president now owns 69,234 shares of the company’s stock, valued at $4,289,046.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond V. Dittamore sold 18,000 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $68.39, for a total value of $1,231,020.00. Following the transaction, the director now directly owns 5,813 shares in the company, valued at approximately $397,551.07. 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.
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