Hemenway Trust Co LLC Sells 18,017 Shares of QUALCOMM, Inc. (QCOM)
Hemenway Trust Co LLC decreased its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 61.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 11,112 shares of the wireless technology company’s stock after selling 18,017 shares during the period. Hemenway Trust Co LLC’s holdings in QUALCOMM were worth $576,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Westwood Holdings Group Inc. purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at about $114,000. Krilogy Financial LLC raised its holdings in shares of QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after acquiring an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at about $141,000. Jacobi Capital Management LLC raised its holdings in shares of QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after acquiring an additional 200 shares in the last quarter. Finally, Penserra Capital Management LLC raised its holdings in shares of QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares in the last quarter. 76.53% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. UBS Group reduced their price objective on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Wells Fargo & Co lowered QUALCOMM from an “outperform” rating to a “market perform” rating in a research report on Monday, November 6th. Finally, Royal Bank of Canada upgraded QUALCOMM from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $70.00 in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $66.02.
In other news, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,427 shares of company stock worth $1,827,995. 0.17% of the stock is owned by corporate insiders.
QUALCOMM, Inc. (QCOM) opened at $64.73 on Monday. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28. The stock has a market capitalization of $94,921.48, a P/E ratio of 39.23, a P/E/G ratio of 1.83 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company earned $1.28 EPS. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 29th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.52%. QUALCOMM’s payout ratio is 138.18%.
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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