QUALCOMM Incorporated (QCOM) Shares Sold by Checchi Capital Advisers LLC
Checchi Capital Advisers LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,349 shares of the wireless technology company’s stock after selling 2,097 shares during the period. Checchi Capital Advisers LLC’s holdings in QUALCOMM were worth $1,400,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Horan Capital Advisors LLC. raised its stake in shares of QUALCOMM by 1.1% in the second quarter. Horan Capital Advisors LLC. now owns 55,492 shares of the wireless technology company’s stock valued at $3,064,000 after acquiring an additional 615 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of QUALCOMM by 3.8% in the second quarter. State of Wisconsin Investment Board now owns 1,450,932 shares of the wireless technology company’s stock valued at $80,120,000 after purchasing an additional 53,748 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in shares of QUALCOMM by 32.2% in the second quarter. WASHINGTON TRUST Co now owns 5,564 shares of the wireless technology company’s stock valued at $307,000 after purchasing an additional 1,354 shares in the last quarter. Morningstar Investment Services LLC increased its holdings in shares of QUALCOMM by 7.0% in the second quarter. Morningstar Investment Services LLC now owns 270,442 shares of the wireless technology company’s stock valued at $14,934,000 after purchasing an additional 17,727 shares in the last quarter. Finally, Shufro Rose & Co. LLC increased its holdings in shares of QUALCOMM by 431.2% in the second quarter. Shufro Rose & Co. LLC now owns 285,204 shares of the wireless technology company’s stock valued at $15,749,000 after purchasing an additional 231,510 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 5,810 shares of company stock valued at $301,596. Corporate insiders own 0.24% of the company’s stock.
A number of analysts recently weighed in on QCOM shares. Vetr lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $62.37 price target for the company. in a report on Wednesday, June 28th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “buy” rating and issued a $65.00 price target on shares of QUALCOMM in a report on Thursday, July 13th. Mizuho reissued a “buy” rating and issued a $65.00 price target on shares of QUALCOMM in a report on Friday, July 21st. Finally, Morgan Stanley raised their price target on shares of QUALCOMM from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $64.00.
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Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.82 on Monday. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62. The stock’s 50 day moving average is $51.84 and its 200-day moving average is $54.30. The company has a market cap of $77.97 billion, a P/E ratio of 20.23 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. QUALCOMM’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 earnings per share. Equities research analysts forecast that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 4.32%. QUALCOMM’s dividend payout ratio is presently 87.36%.
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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