Knuff & Co LLC lifted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,500 shares of the wireless technology company’s stock after buying an additional 250 shares during the quarter. Knuff & Co LLC’s holdings in QUALCOMM were worth $190,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. PagnatoKarp Partners LLC boosted its holdings in shares of QUALCOMM by 44.6% during the second quarter. PagnatoKarp Partners LLC now owns 6,231 shares of the wireless technology company’s stock worth $474,000 after purchasing an additional 1,921 shares during the period. Probity Advisors Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $226,000. Rational Advisors LLC boosted its holdings in shares of QUALCOMM by 27,843.1% during the second quarter. Rational Advisors LLC now owns 18,163 shares of the wireless technology company’s stock worth $1,382,000 after purchasing an additional 18,098 shares during the period. Corient Capital Partners LLC boosted its holdings in shares of QUALCOMM by 24.6% during the second quarter. Corient Capital Partners LLC now owns 7,384 shares of the wireless technology company’s stock worth $562,000 after purchasing an additional 1,456 shares during the period. Finally, Albion Financial Group UT boosted its holdings in shares of QUALCOMM by 9.6% during the second quarter. Albion Financial Group UT now owns 64,899 shares of the wireless technology company’s stock worth $4,937,000 after purchasing an additional 5,700 shares during the period. 79.55% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Erin L. Polek sold 1,478 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the transaction, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.
Several analysts recently commented on the stock. Raymond James upgraded shares of QUALCOMM from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $85.00 to $115.00 in a report on Thursday, May 2nd. Rosenblatt Securities restated a “buy” rating and set a $84.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. Bank of America decreased their price target on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, August 1st. TheStreet upgraded shares of QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. Finally, Deutsche Bank reduced their target price on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $79.69.
Shares of NASDAQ:QCOM traded up $2.58 during trading on Thursday, reaching $76.93. The stock had a trading volume of 521,362 shares, compared to its average volume of 11,428,425. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34. The firm has a market capitalization of $88.63 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 2.01 and a beta of 1.62. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. The stock has a fifty day simple moving average of $73.68 and a two-hundred day simple moving average of $68.65.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, analysts forecast that QUALCOMM, Inc. will post 2.84 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is 77.74%.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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