Rice Hall James & Associates LLC Has $1,702,000 Position in Qualcomm Inc. (QCOM)
Rice Hall James & Associates LLC held its stake in Qualcomm Inc. (NASDAQ:QCOM) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,766 shares of the wireless technology company’s stock at the end of the second quarter. Rice Hall James & Associates LLC’s holdings in Qualcomm were worth $1,702,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in QCOM. CapWealth Advisors LLC increased 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 last quarter. Joel Isaacson & Co. LLC increased 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 last quarter. Americafirst Capital Management LLC bought a new stake in Qualcomm during the second quarter valued at $121,000. Delta Asset Management LLC TN increased 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 last quarter. Finally, Zions Bancorporation increased 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 last quarter. 78.05% of the stock is owned by institutional investors.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 1.72% during midday trading on Tuesday, hitting $66.09. 8,615,309 shares of the company were exchanged. The company has a market capitalization of $97.39 billion, a P/E ratio of 19.35 and a beta of 1.25. The company has a 50-day moving average of $63.81 and a 200 day moving average of $57.04. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40.
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 the Zacks’ 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 analysts’ expectations of $5.57 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Qualcomm Inc. will post $4.30 earnings per share for the current fiscal 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a yield of 3.21%. Qualcomm’s dividend payout ratio (DPR) is 62.17%.
Several research firms have recently weighed in on QCOM. Royal Bank Of Canada boosted their target price on shares of Qualcomm from $55.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, July 21st. Nomura reissued a “neutral” rating and issued a $55.00 target price on shares of Qualcomm in a research report on Thursday, July 21st. Stifel Nicolaus lifted their price target on shares of Qualcomm from $59.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, July 21st. Mizuho lifted their price target on shares of Qualcomm from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, July 21st. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of Qualcomm in a report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Qualcomm presently has a consensus rating of “Buy” and a consensus target price of $64.05.
In other news, President Derek K. Aberle sold 22,653 shares of the business’s stock in a transaction dated 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 sale, the president now owns 69,234 shares of the company’s stock, valued at $4,289,046.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond V. Dittamore sold 18,000 shares of the business’s 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 sale, 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. 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.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Inc. (NASDAQ:QCOM).
Receive News & Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related companies with MarketBeat.com's FREE daily email newsletter.