Union Bankshares Corp boosted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 91,318 shares of the wireless technology company’s stock after buying an additional 2,072 shares during the period. QUALCOMM makes up approximately 1.8% of Union Bankshares Corp’s holdings, making the stock its 15th biggest holding. Union Bankshares Corp’s holdings in QUALCOMM were worth $5,846,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in QCOM. Westwood Holdings Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter worth approximately $114,000. Krilogy Financial LLC grew its stake in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after acquiring an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of QUALCOMM during the 2nd quarter worth approximately $141,000. Jacobi Capital Management LLC grew its stake in shares of QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after acquiring an additional 200 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after acquiring an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 76.16% of the company’s stock.
In other QUALCOMM news, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the transaction, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at $709,484.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at $824,638.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,346 shares of company stock valued at $3,499,504. Company insiders own 0.17% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. research analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a yield of 3.56%. QUALCOMM’s dividend payout ratio (DPR) is -80.57%.
Several equities analysts have recently weighed in on QCOM shares. BMO Capital Markets raised their price target on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, November 2nd. UBS Group raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Royal Bank of Canada raised their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Canaccord Genuity raised their price target on shares of QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $68.25.
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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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