Huntington National Bank lowered its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 24.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,006 shares of the wireless technology company’s stock after selling 48,993 shares during the quarter. Huntington National Bank’s holdings in QUALCOMM were worth $7,931,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in QCOM. Westwood Holdings Group Inc. acquired a new stake in QUALCOMM during the second quarter worth approximately $114,000. Krilogy Financial LLC raised its holdings in QUALCOMM by 47.0% during the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in QUALCOMM during the second quarter worth approximately $141,000. Jacobi Capital Management LLC raised its holdings in QUALCOMM by 7.8% during the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the period. 76.53% of the stock is currently owned by institutional investors.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,427 shares of company stock worth $1,827,995 over the last 90 days. Insiders own 0.17% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. 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 11.06% and a return on equity of 18.08%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. sell-side analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.54%. QUALCOMM’s payout ratio is currently 138.18%.
QCOM has been the topic of a number of recent research reports. Canaccord Genuity lifted their target price on shares of QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Royal Bank of Canada lifted their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 target price on the stock. in a report on Monday, November 6th. Finally, Stifel Nicolaus cut shares of QUALCOMM from a “buy” rating to a “hold” rating and lifted their target price for the company from $65.00 to $75.00 in a report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $66.02.
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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