Middleton & Co Inc MA reduced its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,274 shares of the wireless technology company’s stock after selling 2,055 shares during the period. Middleton & Co Inc MA’s holdings in QUALCOMM were worth $8,084,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Weaver Consulting Group purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $25,000. Hexavest Inc. purchased a new stake in shares of QUALCOMM in the 2nd quarter worth about $33,000. Lenox Wealth Advisors LLC purchased a new stake in shares of QUALCOMM in the 2nd quarter worth about $34,000. Meridian Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $26,000. Finally, Farmers National Bank purchased a new stake in shares of QUALCOMM in the 1st quarter worth about $26,000. Institutional investors own 76.18% of the company’s stock.
In other news, EVP Michelle M. Sterling sold 5,560 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Cristiano R. Amon sold 17,318 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $84.87, for a total transaction of $1,469,778.66. Following the transaction, the president now directly owns 79,862 shares of the company’s stock, valued at approximately $6,777,887.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,069 shares of company stock valued at $3,489,942. Corporate insiders own 0.11% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, sell-side analysts predict that QUALCOMM, Inc. will post 3.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is currently 77.74%.
Several equities research analysts recently commented on the stock. Goldman Sachs Group assumed coverage on shares of QUALCOMM in a research report on Thursday, May 23rd. They issued a “neutral” rating and a $73.00 price objective on the stock. Canaccord Genuity decreased their price objective on shares of QUALCOMM from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. Cfra set a $80.00 price objective on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $88.00 to $96.00 and gave the stock a “positive” rating in a research report on Thursday, May 2nd. Finally, Citigroup boosted their price objective on shares of QUALCOMM from $55.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $79.93.
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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