NBT Bank N A NY Sells 3,327 Shares of QUALCOMM, Inc. (QCOM)
NBT Bank N A NY lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 69,128 shares of the wireless technology company’s stock after selling 3,327 shares during the period. NBT Bank N A NY’s holdings in QUALCOMM were worth $3,964,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $922,599,000. The Manufacturers Life Insurance Company acquired a new stake in QUALCOMM during the third quarter valued at approximately $408,900,000. Capital World Investors increased its stake in QUALCOMM by 57.2% in the third quarter. Capital World Investors now owns 11,400,000 shares of the wireless technology company’s stock valued at $780,900,000 after buying an additional 4,150,000 shares during the last quarter. FMR LLC increased its stake in QUALCOMM by 3.7% in the fourth quarter. FMR LLC now owns 68,251,589 shares of the wireless technology company’s stock valued at $4,450,003,000 after buying an additional 2,439,365 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in QUALCOMM by 1,097.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,586,775 shares of the wireless technology company’s stock valued at $168,860,000 after buying an additional 2,370,783 shares during the last quarter. 79.28% of the stock is owned by institutional investors.
QUALCOMM, Inc. (QCOM) opened at 58.58 on Friday. The company has a market cap of $86.55 billion, a price-to-earnings ratio of 19.52 and a beta of 1.31. QUALCOMM, Inc. has a one year low of $50.84 and a one year high of $71.62. The stock has a 50 day moving average of $55.32 and a 200-day moving average of $59.33.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.29. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. On average, equities analysts predict that QUALCOMM, Inc. will post $4.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.57 per share. The ex-dividend date is Friday, May 26th. This represents a $2.28 annualized dividend and a dividend yield of 3.89%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s dividend payout ratio (DPR) is presently 64.63%.
Several equities research analysts have recently commented on QCOM shares. Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Monday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, May 2nd. Standpoint Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Friday, April 28th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $54.00 target price on shares of QUALCOMM in a research report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $64.19.
In other news, EVP James H. Thompson sold 25,000 shares of QUALCOMM stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $52.53, for a total transaction of $1,313,250.00. Following the sale, the executive vice president now owns 76,246 shares in the company, valued at $4,005,202.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction of $26,921.60. Following the sale, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,931 shares of company stock worth $3,536,013. 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.
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