Wesbanco Bank Inc. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,143 shares of the wireless technology company’s stock after selling 926 shares during the quarter. Wesbanco Bank Inc.’s holdings in QUALCOMM were worth $891,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC grew its position in 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 grew its position in 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 during the last quarter. Penserra Capital Management LLC grew its position in QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares during the last quarter. American National Bank grew its position in QUALCOMM by 28.7% in the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after buying an additional 812 shares during the last quarter. Finally, Ronald Blue & Co. LLC grew its position in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after buying 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 issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.11. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 earnings per share.
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 given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is presently 87.36%.
Several research analysts have issued reports on the stock. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research note on Thursday, August 24th. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $65.00 price objective on shares of QUALCOMM in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.80.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 5,837 shares of company stock worth $303,249 over the last three months. 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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