Qualcomm Inc. (QCOM) Position Maintained by First New York Securities LLC NY
First New York Securities LLC NY 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. The fund owned 2,235 shares of the wireless technology company’s stock at the end of the second quarter. First New York Securities LLC NY’s holdings in Qualcomm were worth $120,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in Qualcomm by 0.8% in the first quarter. State Street Corp now owns 60,697,939 shares of the wireless technology company’s stock worth $3,104,087,000 after buying an additional 468,777 shares during the period. Orbis Allan Gray Ltd bought a new stake in Qualcomm during the first quarter worth approximately $865,645,000. BlackRock Group LTD increased its stake in Qualcomm by 0.4% in the first quarter. BlackRock Group LTD now owns 16,858,032 shares of the wireless technology company’s stock worth $862,119,000 after buying an additional 58,969 shares during the period. Primecap Management Co. CA increased its stake in Qualcomm by 1.1% in the first quarter. Primecap Management Co. CA now owns 16,330,925 shares of the wireless technology company’s stock worth $835,164,000 after buying an additional 176,080 shares during the period. Finally, Geode Capital Management LLC increased its stake in Qualcomm by 4.6% in the first quarter. Geode Capital Management LLC now owns 14,063,913 shares of the wireless technology company’s stock worth $717,970,000 after buying an additional 615,948 shares during the period. 78.05% of the stock is owned by institutional investors.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 1.05% during mid-day trading on Thursday, hitting $67.54. 12,957,165 shares of the stock traded hands. The firm’s 50 day moving average price is $63.54 and its 200 day moving average price is $56.73. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $70.40. The firm has a market cap of $99.53 billion, a price-to-earnings ratio of 19.78 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last released 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 firm 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 firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, equities research analysts predict that Qualcomm Inc. will post $4.30 EPS 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 issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.14%. Qualcomm’s dividend payout ratio is presently 62.17%.
A number of brokerages have recently issued reports on QCOM. Vetr raised shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research report on Monday, September 26th. Zacks Investment Research downgraded shares of Qualcomm from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. BMO Capital Markets reissued an “underperform” rating and set a $53.00 price objective on shares of Qualcomm in a research report on Sunday. Standpoint Research raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Thursday, August 25th. Finally, Cowen and Company boosted their price objective on shares of Qualcomm from $62.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $63.98.
In other Qualcomm news, President Derek K. Aberle sold 22,653 shares of Qualcomm stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total value of $1,403,353.35. Following the completion of the transaction, the president now owns 69,234 shares of the company’s stock, valued at $4,289,046.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raymond V. Dittamore sold 18,000 shares of Qualcomm stock in a transaction on Friday, September 30th. The stock was 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 approximately $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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