Qualcomm Inc. (QCOM) Stake Lowered by Hendershot Investments Inc.
Hendershot Investments Inc. cut its stake in Qualcomm Inc. (NASDAQ:QCOM) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 55,971 shares of the wireless technology company’s stock after selling 360 shares during the period. Hendershot Investments Inc.’s holdings in Qualcomm were worth $2,998,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Orbis Allan Gray Ltd purchased a new stake in Qualcomm during the first quarter valued at about $865,645,000. Bank of Montreal Can purchased a new stake in Qualcomm during the second quarter valued at about $87,048,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Qualcomm by 410.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,894,139 shares of the wireless technology company’s stock valued at $96,866,000 after buying an additional 1,523,303 shares during the last quarter. Douglas Lane & Associates LLC purchased a new stake in Qualcomm during the first quarter valued at about $60,469,000. Finally, Loomis Sayles & Co. L P boosted its stake in Qualcomm by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 14,010,095 shares of the wireless technology company’s stock valued at $716,476,000 after buying an additional 1,003,767 shares during the last quarter. Institutional investors own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 0.64% on Tuesday, reaching $66.68. 9,746,412 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $63.25 and its 200-day moving average price is $56.58. The company has a market capitalization of $98.26 billion, a P/E ratio of 19.53 and a beta of 1.25. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40.
Qualcomm (NASDAQ:QCOM) last released 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. The company earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The company’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 EPS. Analysts anticipate that Qualcomm Inc. will post $4.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s payout ratio is currently 62.17%.
Several equities research analysts recently issued reports on QCOM shares. Vetr upgraded Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 price objective on the stock in a report on Monday, September 12th. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price objective on shares of Qualcomm in a report on Monday, August 15th. Zacks Investment Research upgraded 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 Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, September 29th. Finally, TheStreet cut 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, sixteen have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $63.98.
In other news, EVP Matthew S. Grob sold 2,000 shares of Qualcomm stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $62.37, for a total value of $124,740.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond V. Dittamore sold 18,000 shares of Qualcomm stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $68.39, for a total transaction 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 $397,551.07. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by 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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