Doyle Wealth Management Has $18.01 Million Stake in QUALCOMM Incorporated (QCOM)
Doyle Wealth Management boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 326,076 shares of the wireless technology company’s stock after buying an additional 12,913 shares during the period. QUALCOMM makes up about 3.3% of Doyle Wealth Management’s portfolio, making the stock its 4th largest position. Doyle Wealth Management’s holdings in QUALCOMM were worth $18,006,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Jacobi Capital Management LLC increased its stake in QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares during the period. Alpha Windward LLC increased its stake in QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares during the period. American National Bank increased its stake in QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares during the period. Welch Group LLC increased its stake in QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares during the period. Finally, Commonwealth Financial Services LLC increased its stake in QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after buying an additional 3,022 shares during the period. 76.61% of the stock is currently owned by institutional investors.
QUALCOMM Incorporated (QCOM) traded up 0.73% during mid-day trading on Friday, hitting $52.72. The company had a trading volume of 5,894,208 shares. The company has a 50-day moving average price of $54.47 and a 200 day moving average price of $55.60. The firm has a market capitalization of $77.82 billion, a P/E ratio of 20.19 and a beta of 1.29. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the business earned $1.16 EPS. QUALCOMM’s revenue for the quarter was down 11.1% compared to the same quarter last year. Equities analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.32%. QUALCOMM’s dividend payout ratio is presently 87.36%.
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Several equities research analysts have commented on QCOM shares. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 target price on shares of QUALCOMM in a report on Monday, April 17th. Rosenblatt Securities downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Wednesday, April 19th. Cowen and Company reissued an “outperform” rating and issued a $73.00 target price on shares of QUALCOMM in a report on Wednesday, April 19th. Morgan Stanley reissued an “equal weight” rating on shares of QUALCOMM in a report on Wednesday, April 19th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of QUALCOMM in a report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $63.96.
In related news, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the transaction, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 5,509 shares of QUALCOMM stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,101 shares of company stock valued at $2,955,612. 0.17% of the stock is owned by company insiders.
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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