Ariel Capital Advisors LLC Invests $409,000 in Qualcomm Inc. (QCOM)
Ariel Capital Advisors LLC purchased a new position in Qualcomm Inc. (NASDAQ:QCOM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,635 shares of the wireless technology company’s stock, valued at approximately $409,000.
Other institutional investors have also recently bought and sold shares of the company. 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 during 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 during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Qualcomm during the second quarter worth $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 during 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 during the last quarter. 78.05% of the stock is currently owned by institutional investors and hedge funds.
Qualcomm Inc. (NASDAQ:QCOM) traded down 1.38% during mid-day trading on Monday, reaching $67.25. The company’s stock had a trading volume of 7,029,825 shares. The firm has a market capitalization of $99.10 billion, a PE ratio of 19.69 and a beta of 1.25. Qualcomm Inc. has a 12 month low of $42.24 and a 12 month high of $70.40. The stock’s 50-day moving average is $63.68 and its 200-day moving average is $56.84.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the company posted $0.99 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Qualcomm Inc. will post $4.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
A number of brokerages recently weighed in on QCOM. Royal Bank Of Canada raised their price objective on Qualcomm from $55.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday, July 21st. Nomura reissued a “neutral” rating and issued a $55.00 price target on shares of Qualcomm in a report on Thursday, July 21st. Stifel Nicolaus raised their price target on Qualcomm from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Mizuho raised their price target on Qualcomm from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, July 21st. Finally, Sanford C. Bernstein reissued a “hold” rating on shares of Qualcomm in a report on Thursday, September 8th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Qualcomm presently has an average rating of “Buy” and an average price target of $64.05.
In other Qualcomm news, President Derek K. Aberle sold 22,653 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $61.95, for a total value of $1,403,353.35. Following the transaction, the president now directly owns 69,234 shares of the company’s stock, valued at $4,289,046.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,975,050.00. The disclosure for this sale can be found here. 0.24% of the stock is 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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