Baldwin Investment Management LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 38.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,683 shares of the wireless technology company’s stock after selling 10,550 shares during the quarter. Baldwin Investment Management LLC’s holdings in QUALCOMM were worth $921,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in QCOM. 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 acquiring an additional 250 shares during the period. Alpha Windward LLC grew its position 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 last quarter. Penserra Capital Management LLC grew its position 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 last quarter. American National Bank grew its position 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 last quarter. Finally, Ronald Blue & Co. LLC grew its position 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 last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the company earned $1.28 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given 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 yield of 4.47%. QUALCOMM’s dividend payout ratio is presently 87.36%.
In related news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 5,837 shares of company stock worth $303,249. 0.17% of the stock is owned by corporate insiders.
Several research firms have issued reports on QCOM. BMO Capital Markets restated a “market perform” rating and issued a $54.00 price target on shares of QUALCOMM in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of QUALCOMM in a research report on Wednesday, July 5th. Mizuho restated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average 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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