Phoenix Holdings Ltd. purchased a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 25,860 shares of the wireless technology company’s stock, valued at approximately $2,175,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meridian Investment Counsel Inc. lifted its stake in QUALCOMM by 0.4% during the second quarter. Meridian Investment Counsel Inc. now owns 25,101 shares of the wireless technology company’s stock worth $2,289,000 after purchasing an additional 100 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in QUALCOMM by 0.9% during 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 purchasing an additional 100 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in QUALCOMM by 3.4% during the second quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock worth $308,000 after purchasing an additional 110 shares during the last quarter. Beacon Financial Advisory LLC lifted its stake in QUALCOMM by 1.8% during the second quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock worth $583,000 after purchasing an additional 116 shares during the last quarter. Finally, Nadler Financial Group Inc. lifted its stake in QUALCOMM by 3.8% during the second quarter. Nadler Financial Group Inc. now owns 3,237 shares of the wireless technology company’s stock worth $295,000 after purchasing an additional 118 shares during the last quarter. 74.50% of the stock is owned by institutional investors.
In related news, CFO Akash J. Palkhiwala sold 3,925 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $102.42, for a total transaction of $401,998.50. Following the completion of the transaction, the chief financial officer now owns 17,790 shares of the company’s stock, valued at approximately $1,822,051.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald J. Rosenberg sold 11,038 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $87.68, for a total value of $967,811.84. Following the transaction, the executive vice president now directly owns 3,591 shares of the company’s stock, valued at approximately $314,858.88. The disclosure for this sale can be found here. Insiders sold a total of 234,148 shares of company stock valued at $21,899,420 in the last three months. Corporate insiders own 0.12% of the company’s stock.
Shares of NASDAQ:QCOM traded down $0.70 during trading on Thursday, hitting $110.34. The stock had a trading volume of 257,142 shares, compared to its average volume of 12,098,239. QUALCOMM, Inc. has a 12 month low of $58.00 and a 12 month high of $116.25. The company has a market capitalization of $126.40 billion, a PE ratio of 47.27, a PEG ratio of 1.77 and a beta of 1.37. The firm’s fifty day moving average is $99.04 and its 200 day moving average is $84.29. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.15. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue was down .1% compared to the same quarter last year. Equities research analysts expect that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, September 2nd. QUALCOMM’s dividend payout ratio is currently 91.55%.
A number of equities research analysts have recently weighed in on QCOM shares. Sanford C. Bernstein set a $135.00 target price on QUALCOMM and gave the company a “buy” rating in a research note on Tuesday, August 11th. Edward Jones upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Friday, July 31st. Morgan Stanley raised their target price on shares of QUALCOMM from $102.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Susquehanna Bancshares upped their price target on shares of QUALCOMM from $110.00 to $125.00 in a report on Thursday, July 30th. Finally, UBS Group raised their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $109.00.
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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