Greenleaf Trust lifted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 18.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,006 shares of the wireless technology company’s stock after acquiring an additional 3,877 shares during the period. Greenleaf Trust’s holdings in QUALCOMM were worth $1,902,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. FIL Ltd increased its stake in QUALCOMM by 179.2% during the 1st quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock valued at $272,050,000 after purchasing an additional 3,061,598 shares in the last quarter. Thoroughbred Financial Services LLC increased its stake in QUALCOMM by 7,630.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,290,065 shares of the wireless technology company’s stock valued at $129,006,000 after purchasing an additional 1,273,377 shares in the last quarter. OppenheimerFunds Inc. increased its stake in QUALCOMM by 48.5% during the 1st quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock valued at $183,728,000 after purchasing an additional 1,052,071 shares in the last quarter. First Trust Advisors LP increased its stake in QUALCOMM by 18.5% during the 1st quarter. First Trust Advisors LP now owns 2,659,746 shares of the wireless technology company’s stock valued at $151,685,000 after purchasing an additional 416,097 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in QUALCOMM by 234.6% during the 1st quarter. DNB Asset Management AS now owns 561,983 shares of the wireless technology company’s stock valued at $32,050,000 after purchasing an additional 394,042 shares in the last quarter. Institutional investors own 76.16% of the company’s stock.
QCOM has been the subject of a number of recent research reports. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Deutsche Bank decreased their price target on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday. Sanford C. Bernstein set a $60.00 price target on shares of QUALCOMM and gave the company a “hold” rating in a research note on Wednesday, April 17th. Goldman Sachs Group initiated coverage on shares of QUALCOMM in a research note on Thursday, May 23rd. They issued a “neutral” rating and a $73.00 target price for the company. Finally, Morgan Stanley upgraded shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $95.00 in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. QUALCOMM has a consensus rating of “Buy” and a consensus target price of $79.93.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion during 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 firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, research analysts predict that QUALCOMM, Inc. will post 3.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.49%. QUALCOMM’s payout ratio is currently 77.74%.
In related news, EVP Alexander H. Rogers sold 20,862 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $88.43, for a total transaction of $1,844,826.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 5,560 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total transaction of $480,606.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,931 shares of company stock valued at $5,334,769. 0.11% of the stock is owned by company insiders.
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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