YorkBridge Wealth Partners LLC lowered its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,528 shares of the wireless technology company’s stock after selling 166 shares during the period. YorkBridge Wealth Partners LLC’s holdings in QUALCOMM were worth $192,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in QCOM. Comerica Securities Inc. lifted its holdings in shares of QUALCOMM by 1.3% during the fourth quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock valued at $1,615,000 after purchasing an additional 370 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of QUALCOMM by 2.7% during the fourth quarter. Nordea Investment Management AB now owns 264,630 shares of the wireless technology company’s stock valued at $15,060,000 after purchasing an additional 6,944 shares during the last quarter. Putnam FL Investment Management Co. purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $231,000. Global Retirement Partners LLC lifted its holdings in shares of QUALCOMM by 7.4% during the fourth quarter. Global Retirement Partners LLC now owns 3,138 shares of the wireless technology company’s stock valued at $179,000 after purchasing an additional 215 shares during the last quarter. Finally, Headinvest LLC lifted its holdings in shares of QUALCOMM by 91.5% during the fourth quarter. Headinvest LLC now owns 101,070 shares of the wireless technology company’s stock valued at $5,752,000 after purchasing an additional 48,285 shares during the last quarter. Hedge funds and other institutional investors own 76.16% of the company’s stock.
In other news, EVP Michelle M. Sterling sold 5,560 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total transaction of $480,606.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clark T. Jr. Randt sold 2,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total transaction of $179,160.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,489 shares of company stock valued at $7,603,985. 0.11% of the stock is currently owned by insiders.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. On average, equities research analysts predict that QUALCOMM, Inc. will post 3.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
QCOM has been the subject of several recent research reports. BidaskClub upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, May 23rd. Morgan Stanley set a $40.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Tuesday, April 23rd. Cowen reduced their price target on shares of Nordstrom from $44.00 to $36.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. set a €28.20 ($32.79) price target on shares of AXA and gave the company a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.21.
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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