Wasatch Advisors Inc. Sells 16,182 Shares of QUALCOMM Incorporated (QCOM)
Wasatch Advisors Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,495 shares of the wireless technology company’s stock after selling 16,182 shares during the period. Wasatch Advisors Inc.’s holdings in QUALCOMM were worth $5,605,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Westwood Holdings Group Inc. bought a new position in QUALCOMM in the second quarter valued at $114,000. Krilogy Financial LLC increased its stake in QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after acquiring an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in QUALCOMM in the second quarter valued at $141,000. Jacobi Capital Management LLC increased its stake in QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after acquiring an additional 250 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.
In other news, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold 29,427 shares of company stock valued at $1,827,995 over the last quarter. Company insiders own 0.24% of the company’s stock.
A number of research firms recently commented on QCOM. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Stifel Nicolaus cut QUALCOMM from a “buy” rating to a “hold” rating and increased their target price for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Vetr cut QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price objective on the stock. in a research note on Thursday, November 23rd. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $66.02.
Shares of QUALCOMM Incorporated (QCOM) opened at $64.86 on Wednesday. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $70.24. The company has a market cap of $96,086.08, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.85 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. equities analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.52%. QUALCOMM’s payout ratio is 138.18%.
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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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