QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Butensky & Cohen Financial Security Inc.
Butensky & Cohen Financial Security Inc. increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 31,677 shares of the wireless technology company’s stock after buying an additional 975 shares during the period. QUALCOMM makes up about 1.6% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 28th largest position. Butensky & Cohen Financial Security Inc.’s holdings in QUALCOMM were worth $1,749,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Jacobi Capital Management LLC boosted its stake in shares of QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after buying an additional 250 shares during the period. Alpha Windward LLC boosted its stake in shares of QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after buying an additional 153 shares during the period. American National Bank boosted its stake in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares during the period. Welch Group LLC boosted its stake in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares during the period. Finally, Advantage Investment Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $200,000. Institutional investors own 76.76% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.62% during mid-day trading on Friday, hitting $52.62. 8,677,902 shares of the stock traded hands. The stock has a market cap of $77.67 billion, a price-to-earnings ratio of 20.15 and a beta of 1.29. The firm has a 50 day moving average of $55.44 and a 200 day moving average of $56.02. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the business posted $1.16 EPS. The business’s revenue was down 11.1% compared to the same quarter last year. On average, equities analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is currently 87.36%.
A number of equities research analysts have weighed in on QCOM shares. Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Monday, May 1st. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. J P Morgan Chase & Co cut their price objective on shares of QUALCOMM from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, May 2nd. Standpoint Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Friday, April 28th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a report on Tuesday, May 2nd. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and an average target price of $63.96.
In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 3,049 shares in the company, valued at $174,646.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 5,509 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $59.11, for a total transaction of $325,636.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,802 shares of company stock valued at $3,544,381. Company insiders own 0.17% 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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