Doyle Wealth Management Increases Stake in QUALCOMM Incorporated (QCOM)
Doyle Wealth Management boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 326,076 shares of the wireless technology company’s stock after buying an additional 12,913 shares during the period. QUALCOMM makes up 3.3% of Doyle Wealth Management’s portfolio, making the stock its 4th largest position. Doyle Wealth Management’s holdings in QUALCOMM were worth $18,006,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M Holdings Securities Inc. boosted its position in QUALCOMM by 23.5% in the fourth quarter. M Holdings Securities Inc. now owns 9,296 shares of the wireless technology company’s stock worth $606,000 after buying an additional 1,766 shares during the period. Pegasus Partners Ltd. boosted its position in QUALCOMM by 20.0% in the fourth quarter. Pegasus Partners Ltd. now owns 11,656 shares of the wireless technology company’s stock worth $760,000 after buying an additional 1,939 shares during the period. Teachers Advisors LLC boosted its position in QUALCOMM by 23.0% in the fourth quarter. Teachers Advisors LLC now owns 3,729,155 shares of the wireless technology company’s stock worth $243,141,000 after buying an additional 698,081 shares during the period. Kentucky Retirement Systems purchased a new position in QUALCOMM during the fourth quarter worth approximately $6,987,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in QUALCOMM during the fourth quarter worth approximately $3,118,000. Institutional investors own 76.61% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.73% during midday trading on Friday, hitting $52.72. 5,894,208 shares of the stock traded hands. The firm has a 50-day moving average price of $54.47 and a 200 day moving average price of $55.60. QUALCOMM Incorporated has a one year low of $51.05 and a one year high of $71.62. The stock has a market cap of $77.82 billion, a price-to-earnings ratio of 20.19 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $1.16 EPS. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. Analysts anticipate that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
QCOM has been the topic of a number of research reports. Stifel Nicolaus restated a “buy” rating and set a $64.00 price target on shares of QUALCOMM in a research note on Monday, April 17th. Rosenblatt Securities cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research note on Wednesday, April 19th. Cowen and Company restated an “outperform” rating and set a $73.00 price target on shares of QUALCOMM in a research note on Wednesday, April 19th. Morgan Stanley restated an “equal weight” rating on shares of QUALCOMM in a research note on Wednesday, April 19th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of QUALCOMM in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the transaction, the president now owns 5,855 shares in the company, valued at approximately $324,249.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 5,509 shares of the company’s stock in a transaction dated 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. In the last 90 days, insiders sold 52,101 shares of company stock valued at $2,955,612. 0.17% of the stock is owned by 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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