SignalPoint Asset Management LLC Has $874,000 Stake in Qualcomm Inc. (QCOM)
SignalPoint Asset Management LLC cut its stake in Qualcomm Inc. (NASDAQ:QCOM) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,318 shares of the wireless technology company’s stock after selling 329 shares during the period. SignalPoint Asset Management LLC’s holdings in Qualcomm were worth $874,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Qualcomm by 0.8% in the first quarter. State Street Corp now owns 60,697,939 shares of the wireless technology company’s stock valued at $3,104,087,000 after buying an additional 468,777 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in shares of Qualcomm during the first quarter valued at $865,645,000. BlackRock Group LTD boosted its position in shares of Qualcomm by 0.4% in the first quarter. BlackRock Group LTD now owns 16,858,032 shares of the wireless technology company’s stock valued at $862,119,000 after buying an additional 58,969 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of 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 valued at $835,164,000 after buying an additional 176,080 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of 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 valued at $717,970,000 after buying an additional 615,948 shares in the last quarter. Institutional investors own 78.05% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 0.54% during trading on Thursday, hitting $65.70. 7,149,838 shares of the company’s stock were exchanged. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The stock’s 50 day moving average is $63.99 and its 200 day moving average is $57.17. The firm has a market capitalization of $96.82 billion, a PE ratio of 19.24 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results 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. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the firm earned $0.99 EPS. Qualcomm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Qualcomm Inc. will post $4.30 earnings per share for the current year.
The business also recently declared 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 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 (DPR) is 62.17%.
Several research analysts have recently weighed in on QCOM shares. Standpoint Research cut Qualcomm from a “buy” rating to a “hold” rating in a report on Monday, July 25th. RBC Capital Markets restated a “sector perform” rating and set a $70.00 target price (up from $59.00) on shares of Qualcomm in a report on Monday, October 3rd. Bank of America Corp. restated a “buy” rating on shares of Qualcomm in a report on Monday, July 18th. Vetr upgraded Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 target price on the stock in a report on Monday, September 12th. Finally, Morgan Stanley restated a “buy” rating on shares of Qualcomm in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.20.
In related news, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $68.18, for a total value of $136,360.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the sale, the director now owns 12,765 shares in the company, valued at $778,665. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Qualcomm Company Profile
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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