Moneta Group Investment Advisors LLC bought a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,498 shares of the wireless technology company’s stock, valued at approximately $258,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in QUALCOMM by 5.2% during the 2nd quarter. Lindbrook Capital LLC now owns 2,821 shares of the wireless technology company’s stock worth $214,000 after acquiring an additional 139 shares in the last quarter. Enterprise Financial Services Corp boosted its holdings in shares of QUALCOMM by 9.9% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,585 shares of the wireless technology company’s stock valued at $121,000 after buying an additional 143 shares in the last quarter. Evolution Wealth Advisors LLC boosted its holdings in shares of QUALCOMM by 4.6% in the 1st quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock valued at $201,000 after buying an additional 154 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of QUALCOMM by 2.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 6,419 shares of the wireless technology company’s stock valued at $474,000 after buying an additional 156 shares in the last quarter. Finally, Hedeker Wealth LLC boosted its holdings in shares of QUALCOMM by 0.6% in the 2nd quarter. Hedeker Wealth LLC now owns 28,153 shares of the wireless technology company’s stock valued at $2,141,000 after buying an additional 159 shares in the last quarter. 78.73% of the stock is currently owned by institutional investors and hedge funds.
In other QUALCOMM news, Director Mark D. Mclaughlin purchased 2,705 shares of QUALCOMM stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $73.84 per share, with a total value of $199,737.20. Following the transaction, the director now owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Shares of QUALCOMM stock traded down $0.42 during midday trading on Thursday, hitting $79.48. The company had a trading volume of 1,871,670 shares, compared to its average volume of 15,878,857. The stock has a market cap of $95.08 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.16 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. The company has a fifty day simple moving average of $74.44 and a 200 day simple moving average of $70.48. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm 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%. QUALCOMM’s revenue was down 12.7% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. As a group, analysts expect that QUALCOMM, Inc. will post 2.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s payout ratio is currently 77.74%.
A number of analysts have recently weighed in on the stock. Mizuho set a $68.00 price target on shares of QUALCOMM and gave the company a “hold” rating in a report on Monday, August 26th. Barclays cut 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. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price target on shares of QUALCOMM in a report on Monday, July 22nd. Morgan Stanley set a $89.00 price target on shares of QUALCOMM and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Daiwa Capital Markets assumed coverage on shares of QUALCOMM in a report on Thursday, July 18th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $79.68.
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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