First Financial Bank Trust Division cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 10.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,355 shares of the wireless technology company’s stock after selling 1,131 shares during the quarter. First Financial Bank Trust Division’s holdings in QUALCOMM were worth $599,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in QCOM. Westwood Holdings Group Inc. acquired a new stake in QUALCOMM in the second quarter valued at $114,000. Krilogy Financial LLC increased its holdings in QUALCOMM by 47.0% in the second 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 period. Capstone Investment Advisors Netherlands B.V. acquired a new stake in QUALCOMM in the second quarter valued at $141,000. Jacobi Capital Management LLC increased its holdings in QUALCOMM by 7.8% in the second 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 period. Finally, Penserra Capital Management LLC increased its holdings 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 valued at $160,000 after purchasing an additional 842 shares during the period. Institutional investors own 76.16% of the company’s stock.
A number of analysts recently weighed in on QCOM shares. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective for the company in a report on Monday, November 13th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Canaccord Genuity increased their price objective on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Citigroup increased their price objective on QUALCOMM from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Standpoint Research downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and an average price target of $68.25.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The firm had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the business posted $1.19 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. sell-side analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.65%. QUALCOMM’s dividend payout ratio (DPR) is presently -80.57%.
In other news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders have sold a total of 53,346 shares of company stock worth $3,499,504 in the last three months. Insiders own 0.17% of the company’s stock.
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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