IHT Wealth Management LLC Cuts Holdings in QUALCOMM Incorporated (QCOM)
IHT Wealth Management LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,216 shares of the wireless technology company’s stock after selling 527 shares during the period. IHT Wealth Management LLC’s holdings in QUALCOMM were worth $295,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. WealthTrust Axiom LLC grew its position in shares of QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after purchasing an additional 15 shares in the last quarter. Excalibur Management Corp grew its position in shares of QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after purchasing an additional 31 shares in the last quarter. FCA Corp TX grew its position in shares of QUALCOMM by 0.9% in the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after purchasing an additional 43 shares in the last quarter. Welch Group LLC grew its position 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 valued at $174,000 after purchasing an additional 69 shares in the last quarter. Finally, Community Bank N.A. grew its position in shares of QUALCOMM by 0.8% in the first quarter. Community Bank N.A. now owns 8,818 shares of the wireless technology company’s stock valued at $506,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.
A number of research firms have recently issued reports on QCOM. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. William Blair restated a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, September 5th. BMO Capital Markets restated a “market perform” rating and issued a $55.00 price target on shares of QUALCOMM in a research report on Thursday, August 24th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating, ten have given 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 price target of $63.96.
In related news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now owns 5,855 shares in the company, valued at $324,249.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,995 shares of company stock worth $1,587,390. 0.24% of the stock is owned by company insiders.
QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.59% during mid-day trading on Tuesday, reaching $50.87. The company’s stock had a trading volume of 2,034,911 shares. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The stock’s 50 day moving average price is $52.34 and its 200 day moving average price is $55.24. The stock has a market capitalization of $75.09 billion, a P/E ratio of 19.48 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. Analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.51%. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
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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