Chesapeake Asset Management LLC Has $536,000 Position in Qualcomm Inc. (QCOM)
Chesapeake Asset Management LLC held its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the wireless technology company’s stock at the end of the second quarter. Chesapeake Asset Management LLC’s holdings in Qualcomm were worth $536,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Denver Investment Advisors LLC boosted its stake in shares of Qualcomm by 1.9% in the second quarter. Denver Investment Advisors LLC now owns 232,533 shares of the wireless technology company’s stock worth $12,457,000 after buying an additional 4,327 shares during the period. Ruffer LLP boosted its stake in shares of Qualcomm by 573.1% in the second quarter. Ruffer LLP now owns 693,151 shares of the wireless technology company’s stock worth $37,129,000 after buying an additional 590,171 shares during the period. Capital Advisors Inc. OK boosted its stake in shares of Qualcomm by 5.4% in the second quarter. Capital Advisors Inc. OK now owns 185,454 shares of the wireless technology company’s stock worth $9,935,000 after buying an additional 9,440 shares during the period. Oak Associates Ltd. OH boosted its stake in shares of Qualcomm by 8.3% in the second quarter. Oak Associates Ltd. OH now owns 292,992 shares of the wireless technology company’s stock worth $15,696,000 after buying an additional 22,537 shares during the period. Finally, First Interstate Bank boosted its stake in shares of Qualcomm by 2.6% in the second quarter. First Interstate Bank now owns 152,541 shares of the wireless technology company’s stock worth $8,172,000 after buying an additional 3,905 shares during the period. Institutional investors and hedge funds own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded down 0.16% during mid-day trading on Thursday, hitting $63.47. The stock had a trading volume of 3,250,292 shares. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $64.00. The firm has a market cap of $93.53 billion, a PE ratio of 18.59 and a beta of 1.22. The company has a 50-day moving average of $62.39 and a 200-day moving average of $55.70.
Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.19. The business 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Analysts expect that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s dividend payout ratio (DPR) is currently 62.17%.
A number of equities research analysts have commented on QCOM shares. Standpoint Research cut Qualcomm from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Bank of America Corp. reiterated a “buy” rating on shares of Qualcomm in a research note on Monday, July 18th. Vetr upgraded Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 price target for the company in a research note on Monday, September 12th. Morgan Stanley reiterated a “buy” rating on shares of Qualcomm in a research note on Wednesday, June 15th. Finally, Cowen and Company increased their price target on Qualcomm from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Qualcomm has an average rating of “Buy” and an average price target of $62.02.
In related news, EVP Matthew S. Grob sold 2,000 shares of the stock in a transaction 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 available through this link. Also, EVP Matthew S. Grob sold 33,000 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total value of $1,975,050.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
Qualcomm Company Profile
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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