Bessemer Group Inc. Decreases Holdings in QUALCOMM Incorporated (QCOM)
Bessemer Group Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,423,657 shares of the wireless technology company’s stock after selling 22,242 shares during the quarter. Bessemer Group Inc. owned 0.23% of QUALCOMM worth $189,055,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC grew its holdings in shares of QUALCOMM by 10.8% during 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 in the last quarter. Alpha Windward LLC grew its holdings in shares of QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares in the last quarter. Welch Group LLC grew its holdings in shares of QUALCOMM by 2.3% during 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 in the last quarter. American National Bank grew its holdings in shares of QUALCOMM by 28.7% during 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 in the last quarter. Finally, Gilbert & Cook Inc. acquired a new stake in shares of QUALCOMM during the 2nd quarter worth $217,000. 76.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QUALCOMM Incorporated (QCOM) opened at 52.09 on Monday. The firm has a market cap of $76.89 billion, a PE ratio of 19.95 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The company’s 50-day moving average price is $52.06 and its 200 day moving average price is $54.99.
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 firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’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 earned $1.16 EPS. On average, analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were paid a dividend of $0.57 per share. The ex-dividend date was Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.38%. QUALCOMM’s dividend payout ratio is 87.36%.
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In other news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 directly owns 5,855 shares in the company, valued at $324,249.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,995 shares of company stock worth $1,587,390. Company insiders own 0.17% of the company’s stock.
Several analysts have recently issued reports on QCOM shares. Vetr lowered QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $62.37 target price on the stock. in a report on Wednesday, June 28th. Canaccord Genuity reissued a “buy” rating and set a $70.00 target price on shares of QUALCOMM in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and set a $65.00 target price on shares of QUALCOMM in a report on Thursday, July 13th. Mizuho reissued a “buy” rating and set a $65.00 target price on shares of QUALCOMM in a report on Friday, July 21st. Finally, Morgan Stanley increased their target price on QUALCOMM from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM presently has an average rating of “Hold” and an average price target of $63.96.
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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