Teacher Retirement System of Texas increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,181,217 shares of the wireless technology company’s stock after acquiring an additional 29 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of QUALCOMM worth $65,227,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in QCOM. Jacobi Capital Management LLC increased its holdings in shares of QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after acquiring an additional 250 shares during the period. Alpha Windward LLC increased its holdings in shares of QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after acquiring an additional 153 shares during the period. Welch Group LLC increased its holdings in shares of QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after acquiring an additional 69 shares during the period. American National Bank increased its holdings in shares of QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after acquiring an additional 812 shares during the period. Finally, Ronald Blue & Co. LLC increased its holdings in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after acquiring an additional 18 shares during the period. 76.92% of the stock is currently owned by institutional investors and hedge funds.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 5,810 shares of company stock worth $301,596. Company insiders own 0.17% of the company’s stock.
QCOM has been the topic of several recent research reports. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $75.00 to $62.50 in a research note on Wednesday, June 28th. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research note on Tuesday, June 27th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research note on Thursday, August 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.00.
QUALCOMM Incorporated (QCOM) opened at 54.12 on Thursday. The stock’s 50 day moving average price is $51.82 and its 200 day moving average price is $54.39. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The stock has a market capitalization of $79.88 billion, a PE ratio of 20.73 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. Equities research analysts forecast that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.21%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio is currently 87.36%.
QUALCOMM Company Profile
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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