Qualcomm Inc. (QCOM) Shares Sold by Bartlett & Co. LLC
Bartlett & Co. LLC cut its position in Qualcomm Inc. (NASDAQ:QCOM) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 540,151 shares of the wireless technology company’s stock after selling 6,414 shares during the period. Qualcomm accounts for 1.4% of Bartlett & Co. LLC’s holdings, making the stock its 23rd largest position. Bartlett & Co. LLC’s holdings in Qualcomm were worth $28,936,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. CapWealth Advisors LLC increased its stake in shares of 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 in the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of 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 in the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Qualcomm during the second quarter worth about $121,000. Delta Asset Management LLC TN increased its stake in shares of 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 in the last quarter. Finally, Zions Bancorporation increased its stake in shares of 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 in the last quarter. 78.05% of the stock is currently owned by institutional investors and hedge funds.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.24% during midday trading on Wednesday, hitting $66.84. 6,361,993 shares of the stock traded hands. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The company has a 50-day moving average price of $63.38 and a 200-day moving average price of $56.65. The firm has a market cap of $98.50 billion, a P/E ratio of 19.57 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. Analysts predict that Qualcomm Inc. will post $4.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, August 29th. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
A number of brokerages have recently issued reports on QCOM. Goldman Sachs Group Inc. began coverage on shares of Qualcomm in a report on Thursday, July 21st. They set a “conviction-buy” rating and a $70.00 price target for the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $70.00 price target (up previously from $63.00) on shares of Qualcomm in a report on Monday. BMO Capital Markets downgraded shares of Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a report on Thursday, July 14th. Standpoint Research downgraded shares of Qualcomm from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Mizuho upgraded shares of Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $63.98.
In other Qualcomm news, EVP Matthew S. Grob sold 2,000 shares of Qualcomm stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $68.18, for a total value of $136,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond V. Dittamore sold 18,000 shares of Qualcomm stock in a transaction that occurred on 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 sale, the director now 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 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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