Compass Capital Management Inc. Has $19,084,000 Stake in Qualcomm Inc. (QCOM)
Compass Capital Management Inc. boosted its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 356,241 shares of the wireless technology company’s stock after buying an additional 23,132 shares during the period. Qualcomm comprises 3.6% of Compass Capital Management Inc.’s holdings, making the stock its 22nd largest position. Compass Capital Management Inc.’s holdings in Qualcomm were worth $19,084,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Badgley Phelps & Bell Inc. increased its stake in shares of Qualcomm by 5.7% in the first quarter. Badgley Phelps & Bell Inc. now owns 142,177 shares of the wireless technology company’s stock valued at $7,271,000 after buying an additional 7,664 shares during the period. Virginia Retirement System purchased a new stake in shares of Qualcomm during the first quarter valued at $8,314,000. Nisa Investment Advisors L.L.C. increased its stake in shares of Qualcomm by 16.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 524,496 shares of the wireless technology company’s stock valued at $26,823,000 after buying an additional 72,330 shares during the period. Alexandria Capital LLC increased its stake in shares of Qualcomm by 20.8% in the first quarter. Alexandria Capital LLC now owns 28,191 shares of the wireless technology company’s stock valued at $1,442,000 after buying an additional 4,859 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Qualcomm during the first quarter valued at $1,691,000. Institutional investors own 78.05% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded down 0.0708% during mid-day trading on Wednesday, hitting $66.0432. 5,160,815 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 stock has a 50-day moving average of $63.90 and a 200 day moving average of $57.10. The firm has a market cap of $97.32 billion, a price-to-earnings ratio of 19.3391 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.19. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. On average, equities analysts expect that Qualcomm Inc. will post $4.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.21%. Qualcomm’s dividend payout ratio is currently 62.17%.
Several equities research analysts have weighed in on the stock. Argus restated a “buy” rating and issued a $73.00 target price (up from $70.00) on shares of Qualcomm in a research note on Friday, September 30th. BMO Capital Markets reiterated an “underperform” rating and set a $53.00 price objective on shares of Qualcomm in a research note on Sunday, October 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $70.00 price objective (up from $63.00) on shares of Qualcomm in a research note on Monday, October 3rd. Royal Bank Of Canada lifted their price objective on shares of Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, October 3rd. Finally, Vetr downgraded shares of Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research note on Monday, October 3rd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Qualcomm has a consensus rating of “Buy” and a consensus target price of $64.20.
In other news, EVP Matthew S. Grob sold 74,000 shares of Qualcomm stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $66.63, for a total transaction of $4,930,620.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Raymond V. Dittamore sold 7,000 shares of Qualcomm stock in a transaction that occurred 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 in the company, valued at approximately $778,665. The disclosure for this sale can be found here. 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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