Hengehold Capital Management LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 902.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,527 shares of the wireless technology company’s stock after buying an additional 34,685 shares during the period. Hengehold Capital Management LLC’s holdings in QUALCOMM were worth $2,127,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Jacobi Capital Management LLC raised its stake in shares of QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after buying an additional 250 shares during the last quarter. Alpha Windward LLC raised its stake in shares of QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after buying an additional 153 shares in the last quarter. American National Bank raised its stake in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares in the last quarter. Welch Group LLC raised its stake in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares in the last quarter. Finally, Advantage Investment Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $200,000. 76.59% of the stock is owned by institutional investors and hedge funds.
Shares of QUALCOMM Incorporated (NASDAQ QCOM) opened at 51.92 on Friday. The stock’s 50 day moving average is $54.04 and its 200-day moving average is $55.54. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. The company has a market cap of $76.64 billion, a P/E ratio of 19.89 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, equities analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.39%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
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A number of analysts have commented on the company. Standpoint Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Friday, April 28th. Mizuho reaffirmed a “buy” rating and issued a $68.00 target price (down from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. BidaskClub raised QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a report on Friday, June 30th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.96.
In related news, President Derek K. Aberle sold 22,251 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value of $1,281,435.09. Following the sale, the president now directly owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares in the company, valued at $324,249.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,101 shares of company stock worth $2,955,612. Corporate insiders own 0.17% of the company’s stock.
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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