Qualcomm Inc. (QCOM) Shares Bought by Prospera Financial Services Inc
Prospera Financial Services Inc increased its stake in Qualcomm Inc. (NASDAQ:QCOM) by 56.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,832 shares of the wireless technology company’s stock after buying an additional 2,813 shares during the period. Prospera Financial Services Inc’s holdings in Qualcomm were worth $420,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Country Trust Bank increased its position in Qualcomm by 1.6% in the first quarter. Country Trust Bank now owns 607,030 shares of the wireless technology company’s stock valued at $31,044,000 after buying an additional 9,644 shares during the period. Sigma Planning Corp increased its stake in Qualcomm by 17.8% in the first quarter. Sigma Planning Corp now owns 10,202 shares of the wireless technology company’s stock worth $522,000 after buying an additional 1,539 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in Qualcomm during the first quarter worth approximately $399,000. Montrusco Bolton Investments Inc. increased its stake in Qualcomm by 32.2% in the first quarter. Montrusco Bolton Investments Inc. now owns 9,975 shares of the wireless technology company’s stock worth $510,000 after buying an additional 2,430 shares during the last quarter. Finally, Kelman Lazarov Inc. acquired a new stake in Qualcomm during the first quarter worth approximately $476,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 1.56% during mid-day trading on Friday, hitting $68.50. 34,879,502 shares of the company’s stock traded hands. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The stock has a market cap of $100.94 billion, a P/E ratio of 20.06 and a beta of 1.22. The stock has a 50 day moving average price of $62.97 and a 200-day moving average price of $56.28.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the company earned $0.99 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Qualcomm Inc. will post $4.28 EPS for the current fiscal year.
The company also recently disclosed 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 of this dividend was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.09%. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
A number of analysts have commented on the stock. Argus reiterated a “buy” rating and issued a $73.00 price objective (up previously from $70.00) on shares of Qualcomm in a report on Friday. BMO Capital Markets reiterated an “underperform” rating and issued a $53.00 price objective on shares of Qualcomm in a report on Sunday. Mizuho upgraded shares of Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday. Cowen and Company increased their price objective on shares of Qualcomm from $62.00 to $74.00 and gave the company an “outperform” rating in a report on Friday. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price objective on shares of Qualcomm in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $63.11.
In other Qualcomm news, EVP Matthew S. Grob sold 33,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew S. Grob sold 74,000 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $66.63, for a total transaction of $4,930,620.00. The disclosure for this sale can be found here. 0.24% of the stock is currently 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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