Curtis Advisory Group LLC acquired a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the wireless technology company’s stock, valued at approximately $274,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in QUALCOMM by 1.7% during the first quarter. Geode Capital Management LLC now owns 16,747,551 shares of the wireless technology company’s stock worth $1,131,038,000 after buying an additional 287,438 shares during the last quarter. Capital World Investors increased its holdings in QUALCOMM by 5.2% during the first quarter. Capital World Investors now owns 15,268,873 shares of the wireless technology company’s stock worth $1,032,939,000 after buying an additional 751,290 shares during the last quarter. Norges Bank purchased a new stake in QUALCOMM during the fourth quarter worth about $1,044,613,000. Clearbridge Investments LLC increased its holdings in QUALCOMM by 6.0% during the first quarter. Clearbridge Investments LLC now owns 10,167,014 shares of the wireless technology company’s stock worth $687,798,000 after buying an additional 571,593 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of QUALCOMM by 1.6% in the first quarter. Royal Bank of Canada now owns 8,278,895 shares of the wireless technology company’s stock worth $560,068,000 after purchasing an additional 127,006 shares in the last quarter. Institutional investors and hedge funds own 74.50% of the company’s stock.
QCOM has been the subject of several recent research reports. BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Susquehanna Bancshares reiterated a “buy” rating and issued a $105.00 target price on shares of QUALCOMM in a research note on Friday, June 12th. Tigress Financial restated a “buy” rating on shares of QUALCOMM in a research report on Friday, April 17th. Morgan Stanley upgraded shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and set a $102.00 price objective for the company in a research report on Tuesday, June 16th. Finally, Raymond James lowered shares of QUALCOMM to a “sell” rating in a research report on Friday, June 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $95.09.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the business posted $0.77 earnings per share. QUALCOMM’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts predict that QUALCOMM, Inc. will post 3.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a $0.65 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.79%. QUALCOMM’s payout ratio is 91.55%.
In other news, CAO Erin L. Polek sold 1,646 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven M. Mollenkopf sold 219,131 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $93.66, for a total transaction of $20,523,809.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 231,815 shares of company stock valued at $21,622,429. Company insiders own 0.12% 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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