First Business Financial Services Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,544 shares of the wireless technology company’s stock after selling 250 shares during the period. First Business Financial Services Inc.’s holdings in QUALCOMM were worth $527,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Community Bank N.A. lifted its holdings in shares of QUALCOMM by 0.8% during the 1st quarter. Community Bank N.A. now owns 8,818 shares of the wireless technology company’s stock worth $506,000 after acquiring an additional 70 shares during the period. Tower Bridge Advisors lifted its holdings in shares of QUALCOMM by 462.0% during the 1st quarter. Tower Bridge Advisors now owns 126,483 shares of the wireless technology company’s stock worth $7,253,000 after acquiring an additional 103,977 shares during the period. Carl Domino Inc lifted its holdings in shares of QUALCOMM by 0.8% during the 1st quarter. Carl Domino Inc now owns 23,875 shares of the wireless technology company’s stock worth $1,369,000 after acquiring an additional 186 shares during the period. AMG National Trust Bank lifted its holdings in shares of QUALCOMM by 10.8% during the 1st quarter. AMG National Trust Bank now owns 70,057 shares of the wireless technology company’s stock worth $4,017,000 after acquiring an additional 6,840 shares during the period. Finally, HPM Partners LLC purchased a new position in shares of QUALCOMM during the 1st quarter worth about $3,035,000. Institutional investors own 76.77% of the company’s stock.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 5,837 shares of company stock worth $303,249 over the last quarter. 0.17% of the stock is currently owned by company insiders.
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Several research analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday. Citigroup Inc increased their price objective on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Mizuho reiterated a “buy” rating and set a $65.00 price objective on shares of QUALCOMM in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $63.80.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at $61.81 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 2.73. The company has a market capitalization of $80.84 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.77 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the business posted $1.28 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts forecast that QUALCOMM Incorporated will post 3.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is 138.18%.
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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