Qualcomm Inc. (QCOM) Stake Held by North Star Asset Management Inc.
North Star Asset Management Inc. held its position in shares of Qualcomm Inc. (NASDAQ:QCOM) during the second quarter, Holdings Channel reports. The fund owned 114,871 shares of the wireless technology company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Qualcomm were worth $5,875,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in QCOM. Orbis Allan Gray Ltd acquired a new position in Qualcomm during the first quarter worth approximately $865,645,000. Bank of Montreal Can acquired a new position in Qualcomm during the second quarter worth approximately $87,048,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Qualcomm by 410.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,894,139 shares of the wireless technology company’s stock worth $96,866,000 after buying an additional 1,523,303 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Qualcomm by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 14,010,095 shares of the wireless technology company’s stock worth $716,476,000 after buying an additional 1,003,767 shares in the last quarter. Finally, AMF Pensionsforsakring AB increased its position in Qualcomm by 119.9% in the first quarter. AMF Pensionsforsakring AB now owns 1,610,706 shares of the wireless technology company’s stock worth $82,372,000 after buying an additional 878,363 shares in the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) remained flat at $65.70 during mid-day trading on Friday. 6,743,106 shares of the company traded hands. The firm has a 50-day moving average of $64.16 and a 200 day moving average of $57.34. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40. The stock has a market cap of $96.82 billion, a PE ratio of 19.24 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.19. The business earned $5.60 billion during 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%. Qualcomm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. Equities research 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. Shareholders of record on Wednesday, November 30th will be paid 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 3.23%. Qualcomm’s dividend payout ratio is currently 62.17%.
A number of equities analysts have recently commented on QCOM shares. Vetr upgraded shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 price objective for the company in a research note on Monday, September 12th. Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Qualcomm in a research note on Monday, August 15th. Zacks Investment Research upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, July 26th. Mizuho raised shares of Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, September 29th. Finally, TheStreet cut shares of Qualcomm from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $64.12.
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 shares were sold at an average price of $61.95, for a total transaction of $1,403,353.35. Following the completion of the sale, the president now directly owns 69,234 shares in the company, valued at approximately $4,289,046.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 74,000 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $66.63, for a total transaction of $4,930,620.00. 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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