Aviance Capital Management LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 342.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,780 shares of the wireless technology company’s stock after buying an additional 122,864 shares during the period. Aviance Capital Management LLC’s holdings in QUALCOMM were worth $9,104,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of QCOM. Burns J W & Co. Inc. NY raised its stake in QUALCOMM by 16.4% in the first quarter. Burns J W & Co. Inc. NY now owns 4,065 shares of the wireless technology company’s stock worth $233,000 after buying an additional 572 shares during the period. Peachtree Investment Advisors Inc. raised its stake in QUALCOMM by 4.6% in the first quarter. Peachtree Investment Advisors Inc. now owns 27,840 shares of the wireless technology company’s stock worth $1,596,000 after buying an additional 1,215 shares during the period. Atlas Brown Inc. raised its stake in QUALCOMM by 45.4% in the first quarter. Atlas Brown Inc. now owns 5,873 shares of the wireless technology company’s stock worth $337,000 after buying an additional 1,835 shares during the period. Confluence Investment Management LLC bought a new stake in QUALCOMM during the first quarter worth about $278,000. Finally, Trust Co raised its stake in QUALCOMM by 2.2% in the fourth quarter. Trust Co now owns 37,502 shares of the wireless technology company’s stock worth $2,445,000 after buying an additional 801 shares during the period. Institutional investors and hedge funds own 76.59% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.1314% during midday trading on Friday, reaching $52.2013. 1,987,461 shares of the company were exchanged. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62. The stock has a market capitalization of $77.05 billion, a price-to-earnings ratio of 19.9928 and a beta of 1.29. The company’s 50-day moving average price is $54.13 and its 200 day moving average price is $55.55.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
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QCOM has been the subject of a number of analyst reports. Canaccord Genuity dropped their price target on QUALCOMM from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, April 20th. BMO Capital Markets restated a “market perform” rating and issued a $60.00 price target on shares of QUALCOMM in a research report on Saturday, April 22nd. Pacific Crest restated an “overweight” rating and issued a $77.00 price target (down from $81.00) on shares of QUALCOMM in a research report on Saturday, April 22nd. Mizuho reiterated a “buy” rating and issued a $68.00 price objective (down from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $60.00 price objective on shares of QUALCOMM in a report on Saturday, April 22nd. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $63.96.
In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction dated 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 completion of the transaction, the president now owns 5,855 shares in the company, valued at approximately $324,249.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 5,509 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $59.11, for a total transaction of $325,636.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,101 shares of company stock valued at $2,955,612. 0.17% of the stock is owned by insiders.
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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