QUALCOMM Incorporated (NASDAQ:QCOM) Position Lowered by Osborn Williams & Donohoe LLC
Osborn Williams & Donohoe LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.3% during the second quarter, Holdings Channel reports. The institutional investor owned 65,669 shares of the wireless technology company’s stock after selling 5,150 shares during the period. Osborn Williams & Donohoe LLC’s holdings in QUALCOMM were worth $3,626,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC raised its stake in 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 in the last quarter. Alpha Windward LLC raised its stake in 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 in the last quarter. American National Bank raised its stake in 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 in the last quarter. Welch Group LLC raised its stake in 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 in the last quarter. Finally, Commonwealth Financial Services LLC raised its stake in QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock worth $205,000 after buying an additional 3,022 shares in the last quarter. Institutional investors and hedge funds own 76.61% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) traded up 0.73% during mid-day trading on Friday, reaching $52.72. 5,894,208 shares of the company’s stock were exchanged. 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 Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62. The stock’s 50-day moving average is $54.47 and its 200-day moving average is $55.60.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be issued a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.32%. QUALCOMM’s dividend payout ratio is currently 87.36%.
A number of equities research analysts have recently issued reports on the stock. UBS AG restated a “neutral” rating and set a $58.00 price target on shares of QUALCOMM in a report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday. Northland Securities lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating and cut their price target for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. BidaskClub lowered shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of QUALCOMM in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.96.
In other news, EVP Michelle M. Sterling sold 5,509 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Derek K. Aberle sold 22,251 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were 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 directly owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,101 shares of company stock worth $2,955,612. Corporate 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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