Manchester Capital Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,091 shares of the wireless technology company’s stock after selling 2,317 shares during the quarter. Manchester Capital Management LLC’s holdings in QUALCOMM were worth $2,953,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ayrshire Capital Management LLC increased its holdings in QUALCOMM by 1.0% in the third quarter. Ayrshire Capital Management LLC now owns 8,539 shares of the wireless technology company’s stock valued at $1,005,000 after purchasing an additional 87 shares during the last quarter. Hudock Inc. increased its holdings in QUALCOMM by 31.4% in the third quarter. Hudock Inc. now owns 381 shares of the wireless technology company’s stock valued at $44,000 after purchasing an additional 91 shares during the last quarter. Meridian Investment Counsel Inc. increased its holdings in shares of QUALCOMM by 0.4% in the second quarter. Meridian Investment Counsel Inc. now owns 25,101 shares of the wireless technology company’s stock worth $2,289,000 after acquiring an additional 100 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its holdings in shares of QUALCOMM by 0.9% in the second quarter. Sound View Wealth Advisors Group LLC now owns 11,264 shares of the wireless technology company’s stock worth $1,027,000 after acquiring an additional 100 shares in the last quarter. Finally, Almanack Investment Partners LLC. increased its holdings in shares of QUALCOMM by 2.7% in the second quarter. Almanack Investment Partners LLC. now owns 3,892 shares of the wireless technology company’s stock worth $355,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 74.79% of the company’s stock.
In other QUALCOMM news, EVP Alexander H. Rogers sold 8,491 shares of QUALCOMM stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $116.78, for a total transaction of $991,578.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Cristiano R. Amon sold 20,530 shares of QUALCOMM stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total value of $2,681,218.00. Following the transaction, the president now directly owns 50,753 shares in the company, valued at $6,628,341.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,795 shares of company stock worth $4,946,452. 0.12% of the stock is currently owned by company insiders.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.80 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. On average, equities analysts predict that QUALCOMM Incorporated will post 3.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio (DPR) is 91.55%.
Several equities research analysts have issued reports on QCOM shares. Citigroup increased their price target on QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Edward Jones upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Friday, July 31st. BidaskClub upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Wednesday, September 30th. KeyCorp increased their price target on QUALCOMM from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on QUALCOMM from $115.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $123.12.
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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