FDx Advisors Inc. raised its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 26.8% during the third quarter, HoldingsChannel.com reports. The firm owned 94,211 shares of the wireless technology company’s stock after purchasing an additional 19,905 shares during the period. FDx Advisors Inc.’s holdings in QUALCOMM were worth $4,884,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Ronald Blue & Co. LLC raised its holdings in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares during the period. Hollencrest Securities LLC raised its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares during the period. Farmers Trust Co. raised its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after buying an additional 48 shares during the period. FCA Corp TX raised its holdings in shares of QUALCOMM by 1.0% in the 2nd quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after buying an additional 49 shares during the period. Finally, Meridian Investment Counsel Inc. raised its holdings in shares of QUALCOMM by 0.3% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after buying an additional 50 shares during the period. Institutional investors own 76.53% of the company’s stock.
Several equities research analysts recently issued reports on the company. Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price objective on the stock in a report on Tuesday, January 2nd. BidaskClub downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Stifel Nicolaus downgraded QUALCOMM from a “buy” rating to a “hold” rating and upped their price target for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. Finally, Royal Bank of Canada upped their price target on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.06.
QUALCOMM (NASDAQ:QCOM) last released 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. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. equities research analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders 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 3.43%. QUALCOMM’s dividend payout ratio is currently 138.18%.
In other news, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the transaction, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,989 shares of company stock valued at $1,868,744. 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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