PNC Financial Services Group Inc. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,878,425 shares of the wireless technology company’s stock after selling 185,257 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of QUALCOMM worth $103,725,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Ronald Blue & Co. LLC raised its holdings in shares of QUALCOMM by 0.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares in the last quarter. Hollencrest Securities LLC raised its holdings in shares of QUALCOMM by 0.9% during the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of QUALCOMM by 0.4% during the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after buying an additional 42 shares in the last quarter. FCA Corp TX raised its holdings in shares of QUALCOMM by 0.9% during the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after buying an additional 43 shares in the last quarter. Finally, Farmers Trust Co. raised its holdings in shares of QUALCOMM by 0.9% during the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after buying an additional 48 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,837 shares of company stock valued at $1,512,049. 0.17% of the stock is owned by company insiders.
A number of equities analysts recently weighed in on QCOM shares. Stifel Nicolaus reissued a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Tuesday, October 17th. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, September 5th. Standpoint Research cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, Northland Securities raised QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target on the stock in a research note on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.42.
QUALCOMM Incorporated (QCOM) opened at $66.72 on Friday. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $98,356.30, a price-to-earnings ratio of 17.65, a PEG ratio of 1.87 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. research analysts expect that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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