Investment Centers of America Inc. Trims Holdings in QUALCOMM Incorporated (QCOM)
Investment Centers of America Inc. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,188 shares of the wireless technology company’s stock after selling 1,327 shares during the period. Investment Centers of America Inc.’s holdings in QUALCOMM were worth $960,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in QCOM. BRILLIANCE ASSET MANAGEMENT Ltd acquired a new stake in QUALCOMM in the first quarter valued at approximately $53,884,000. Goelzer Investment Management Inc. grew its stake in QUALCOMM by 23.4% in the first quarter. Goelzer Investment Management Inc. now owns 192,799 shares of the wireless technology company’s stock valued at $11,055,000 after acquiring an additional 36,588 shares during the period. Lincoln National Corp acquired a new stake in QUALCOMM in the first quarter valued at approximately $241,000. Karp Capital Management Corp acquired a new stake in QUALCOMM in the first quarter valued at approximately $34,783,000. Finally, First Foundation Advisors grew its stake in QUALCOMM by 0.6% in the first quarter. First Foundation Advisors now owns 269,214 shares of the wireless technology company’s stock valued at $15,437,000 after acquiring an additional 1,503 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Incorporated (NASDAQ QCOM) opened at $66.72 on Friday. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The company has a market capitalization of $97,460.00, a PE ratio of 17.46, a P/E/G ratio of 1.85 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. equities research analysts predict that QUALCOMM Incorporated will post 3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
A number of equities research analysts have commented on QCOM shares. BMO Capital Markets raised their price objective on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. Royal Bank Of Canada raised their price objective on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $65.42.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was 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 through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,837 shares of company stock valued at $1,512,049. 0.17% of the stock is owned by company insiders.
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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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