Hyman Charles D trimmed its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,902 shares of the wireless technology company’s stock after selling 200 shares during the period. Hyman Charles D’s holdings in QUALCOMM were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Weaver Consulting Group acquired a new position in QUALCOMM during the first quarter worth $25,000. Hexavest Inc. acquired a new position in QUALCOMM during the second quarter worth $33,000. Lenox Wealth Advisors LLC acquired a new position in QUALCOMM during the second quarter worth $34,000. Meridian Wealth Management LLC acquired a new position in QUALCOMM during the first quarter worth $26,000. Finally, Farmers National Bank acquired a new position in QUALCOMM during the first quarter worth $26,000. Institutional investors and hedge funds own 76.16% of the company’s stock.
A number of equities analysts recently weighed in on QCOM shares. Canaccord Genuity lowered their target price on shares of QUALCOMM from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday. Daiwa Capital Markets started coverage on shares of QUALCOMM in a report on Thursday, July 18th. They set a “neutral” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of QUALCOMM in a report on Monday, July 22nd. Goldman Sachs Group started coverage on shares of QUALCOMM in a report on Thursday, May 23rd. They set a “neutral” rating and a $73.00 target price on the stock. Finally, Sanford C. Bernstein set a $60.00 target price on shares of QUALCOMM and gave the stock a “hold” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $79.93.
QCOM stock traded down $0.05 during midday trading on Friday, reaching $71.15. 12,648,805 shares of the company were exchanged, compared to its average volume of 12,079,326. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.39. The stock’s 50-day simple moving average is $74.44. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $90.34. The firm has a market capitalization of $86.55 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.62.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. QUALCOMM’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. On average, research analysts expect that QUALCOMM, Inc. will post 3.31 EPS for the current year.
The firm 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 $0.62 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.49%. QUALCOMM’s payout ratio is presently 77.74%.
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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