Dubuque Bank & Trust Co. Purchases 5,877 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)
Dubuque Bank & Trust Co. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 128.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,468 shares of the wireless technology company’s stock after buying an additional 5,877 shares during the period. Dubuque Bank & Trust Co.’s holdings in QUALCOMM were worth $578,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Fisher Asset Management LLC boosted its position in shares of QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock worth $575,769,000 after buying an additional 352,962 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of QUALCOMM by 9.0% in the first quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock worth $541,521,000 after buying an additional 783,394 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of QUALCOMM by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 6,895,262 shares of the wireless technology company’s stock worth $395,375,000 after buying an additional 205,103 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after buying an additional 1,544,792 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after buying an additional 5,054,642 shares in the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.
QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.99% on Thursday, reaching $52.25. The company had a trading volume of 4,189,095 shares. QUALCOMM Incorporated has a 52 week low of $51.05 and a 52 week high of $71.62. The company has a market capitalization of $77.12 billion, a P/E ratio of 20.01 and a beta of 1.29. The stock’s 50-day moving average is $54.70 and its 200-day moving average is $55.64. QUALCOMM also was the recipient of some unusual options trading on Monday. Investors purchased 21,472 put options on the company. This represents an increase of approximately 152% compared to the average daily volume of 8,513 put options.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. QUALCOMM’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Equities research analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a yield of 4.32%. QUALCOMM’s dividend payout ratio is currently 87.36%.
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A number of research analysts have recently commented on QCOM shares. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Northland Securities lowered QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $75.00 to $62.50 in a research note on Wednesday, June 28th. Finally, Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective on the stock in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 22,251 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the completion of the sale, the president now owns 28,959 shares in the company, valued at $1,667,748.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,101 shares of company stock valued at $2,955,612. 0.17% of the stock is owned by company insiders.
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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