Security National Bank of SO Dak boosted its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,180 shares of the wireless technology company’s stock after buying an additional 455 shares during the period. QUALCOMM makes up approximately 2.1% of Security National Bank of SO Dak’s investment portfolio, making the stock its 12th biggest position. Security National Bank of SO Dak’s holdings in QUALCOMM were worth $1,764,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Weaver Consulting Group bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $25,000. Farmers National Bank bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $26,000. Meridian Wealth Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $26,000. Ibex Wealth Advisors purchased a new position in QUALCOMM during the 2nd quarter valued at about $28,000. Finally, Krane Funds Advisors LLC purchased a new position in QUALCOMM during the 2nd quarter valued at about $28,000. 78.45% of the stock is owned by institutional investors.
QCOM has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price target on shares of QUALCOMM in a research report on Monday, July 22nd. Barclays downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $90.00 to $75.00 in a report on Thursday, July 18th. TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a report on Thursday, August 1st. Daiwa Capital Markets started coverage on shares of QUALCOMM in a report on Thursday, July 18th. They issued a “neutral” rating for the company. Finally, BidaskClub raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.68.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. On average, sell-side analysts anticipate that QUALCOMM, Inc. will post 2.84 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
In other news, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at $97,518.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark D. Mclaughlin bought 2,705 shares of QUALCOMM stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the transaction, the director now owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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