Hamlin Capital Management LLC Has $77,933,000 Stake in Qualcomm Inc. (QCOM)
Hamlin Capital Management LLC raised its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 47.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,454,791 shares of the wireless technology company’s stock after buying an additional 470,550 shares during the period. Qualcomm makes up approximately 3.8% of Hamlin Capital Management LLC’s holdings, making the stock its 2nd largest position. Hamlin Capital Management LLC’s holdings in Qualcomm were worth $77,933,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. CapWealth Advisors LLC boosted its stake in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the period. Joel Isaacson & Co. LLC boosted its stake in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the period. Americafirst Capital Management LLC purchased a new stake in Qualcomm during the second quarter valued at $121,000. Delta Asset Management LLC TN boosted its stake in 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 valued at $129,000 after buying an additional 275 shares during the period. Finally, Zions Bancorporation boosted its stake in Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock valued at $155,000 after buying an additional 2,235 shares during the period. 78.05% of the stock is owned by institutional investors.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% during mid-day trading on Friday, hitting $68.19. 8,398,099 shares of the company traded hands. The firm has a 50-day moving average price of $63.68 and a 200 day moving average price of $56.84. Qualcomm Inc. has a 52-week low of $42.24 and a 52-week high of $70.40. The firm has a market cap of $100.49 billion, a price-to-earnings ratio of 19.97 and a beta of 1.25.
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, beating the 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 firm earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The firm’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 $4.30 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 annualized dividend and a yield of 3.11%. Qualcomm’s payout ratio is 62.17%.
Several equities analysts have recently commented on QCOM shares. KeyCorp restated a “buy” rating and issued a $59.00 price objective on shares of Qualcomm in a report on Wednesday, July 6th. Morgan Stanley restated a “buy” rating on shares of Qualcomm in a report on Wednesday, June 15th. Vetr upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $58.08 price objective on the stock in a report on Monday, June 13th. Zacks Investment Research upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday, July 11th. Finally, Bank of America Corp. restated a “buy” rating on shares of Qualcomm in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Qualcomm 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 the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $68.18, for a total transaction of $136,360.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total transaction of $427,000.00. Following the sale, the director now owns 12,765 shares of the company’s stock, valued at approximately $778,665. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
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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