River Road Asset Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 959,405 shares of the wireless technology company’s stock after selling 185,246 shares during the quarter. River Road Asset Management LLC owned 0.06% of QUALCOMM worth $52,978,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its holdings in QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the period. Alpha Windward LLC raised its holdings in QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares during the period. Penserra Capital Management LLC raised its holdings in QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after purchasing an additional 842 shares during the period. American National Bank raised its holdings in QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after purchasing an additional 812 shares during the period. Finally, Ronald Blue & Co. LLC raised its holdings in QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after purchasing an additional 18 shares during the period. 76.77% of the stock is owned by institutional investors.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 5,481 shares of company stock valued at $284,132 over the last three months. Corporate insiders own 0.24% of the company’s stock.
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QUALCOMM Incorporated (QCOM) opened at 54.57 on Monday. The firm’s 50-day moving average price is $52.30 and its 200-day moving average price is $54.08. The firm has a market capitalization of $80.55 billion, a PE ratio of 20.90 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $70.53.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.18%. QUALCOMM’s dividend payout ratio is presently 87.36%.
QCOM has been the subject of a number of analyst reports. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $54.00 price target on shares of QUALCOMM in a report on Monday, July 10th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM has an average rating of “Hold” and a consensus price target of $63.80.
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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