Neville Rodie & Shaw Inc. Has $200,000 Position in QUALCOMM Incorporated (QCOM)
Neville Rodie & Shaw Inc. maintained its stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,629 shares of the wireless technology company’s stock at the close of the second quarter. Neville Rodie & Shaw Inc.’s holdings in QUALCOMM were worth $200,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Jacobi Capital Management LLC boosted its stake in QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the period. Welch Group LLC boosted its stake in QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after purchasing an additional 69 shares during the period. American National Bank boosted its stake in QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after purchasing an additional 812 shares during the period. Commonwealth Financial Services LLC boosted its stake in QUALCOMM by 499.5% in the 1st quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock worth $205,000 after purchasing an additional 3,022 shares during the period. Finally, Good Life Advisors LLC acquired a new position in QUALCOMM in the 1st quarter worth $225,000. 77.03% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Incorporated (NASDAQ:QCOM) traded up 1.38% during mid-day trading on Friday, hitting $52.19. 13,177,887 shares of the company traded hands. The firm has a 50 day moving average of $52.11 and a 200 day moving average of $55.07. The firm has a market capitalization of $77.04 billion, a P/E ratio of 19.99 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $48.92 and a one year 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 for the quarter, topping the Zacks’ consensus estimate 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%. QUALCOMM’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. Equities research analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Monday, August 28th. QUALCOMM’s payout ratio is 87.36%.
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A number of equities analysts recently weighed in on QCOM shares. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 target price for the company in a research note on Wednesday, June 7th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a research note on Monday, July 10th. Finally, Deutsche Bank AG started coverage on shares of QUALCOMM in a research note on Monday, June 19th. They issued a “hold” rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $63.96.
In other news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction on 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 transaction, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction on 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. Insiders sold a total of 28,995 shares of company stock worth $1,587,390 in the last three months. Insiders own 0.17% of the company’s stock.
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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