ACG Wealth trimmed its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 26.2% in the third quarter, HoldingsChannel.com reports. The fund owned 8,690 shares of the wireless technology company’s stock after selling 3,091 shares during the quarter. ACG Wealth’s holdings in QUALCOMM were worth $450,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. bought a new position in QUALCOMM during the 2nd quarter valued at about $114,000. Krilogy Financial LLC lifted its holdings in QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after purchasing an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in QUALCOMM during the 2nd quarter valued at about $141,000. Jacobi Capital Management LLC lifted its holdings in QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after purchasing an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after purchasing an additional 842 shares during the last quarter. 76.20% of the stock is owned by institutional investors.
Several research firms have weighed in on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, November 27th. Stifel Nicolaus cut shares of QUALCOMM from a “buy” rating to a “hold” rating and raised their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Royal Bank of Canada raised their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $66.06.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the company earned $1.28 EPS. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. research analysts expect that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.49%. QUALCOMM’s dividend payout ratio is 138.18%.
In related news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were 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 owns 12,035 shares in the company, valued at $824,638.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were 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. In the last quarter, insiders have sold 72,989 shares of company stock valued at $4,678,794. 0.17% of the stock is owned by corporate insiders.
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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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