QUALCOMM, Inc. (NASDAQ:QCOM) Shares Sold by Toronto Dominion Bank
Toronto Dominion Bank reduced its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 621,447 shares of the wireless technology company’s stock after selling 41,182 shares during the period. Toronto Dominion Bank owned 0.06% of QUALCOMM worth $56,683,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC lifted its stake in shares of QUALCOMM by 2.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 9,348 shares of the wireless technology company’s stock valued at $632,000 after buying an additional 239 shares during the period. Cetera Advisor Networks LLC increased its stake in QUALCOMM by 4.0% in the first quarter. Cetera Advisor Networks LLC now owns 35,310 shares of the wireless technology company’s stock valued at $2,389,000 after purchasing an additional 1,373 shares during the last quarter. Cetera Advisors LLC increased its stake in QUALCOMM by 12.7% in the first quarter. Cetera Advisors LLC now owns 25,053 shares of the wireless technology company’s stock valued at $1,695,000 after purchasing an additional 2,822 shares during the last quarter. Cetera Investment Advisers lifted its position in QUALCOMM by 27.5% during the first quarter. Cetera Investment Advisers now owns 9,186 shares of the wireless technology company’s stock worth $621,000 after buying an additional 1,981 shares during the period. Finally, Frontier Wealth Management LLC boosted its stake in QUALCOMM by 13.5% in the 1st quarter. Frontier Wealth Management LLC now owns 8,673 shares of the wireless technology company’s stock worth $587,000 after buying an additional 1,029 shares during the last quarter. Institutional investors and hedge funds own 74.79% of the company’s stock.
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,925 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $102.42, for a total value of $401,998.50. Following the sale, the chief financial officer now directly owns 17,790 shares in the company, valued at $1,822,051.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald J. Rosenberg sold 11,038 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $87.68, for a total transaction 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. In the last three months, insiders sold 234,148 shares of company stock worth $21,899,420. Company insiders own 0.12% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the company posted $0.80 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that QUALCOMM, Inc. will post 3.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, September 2nd. QUALCOMM’s payout ratio is 91.55%.
Several brokerages have recently weighed in on QCOM. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised shares of QUALCOMM from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $90.00 to $120.00 in a research note on Tuesday, September 1st. Mizuho reissued a “buy” rating and set a $105.00 price objective (up from $91.00) on shares of QUALCOMM in a research note on Wednesday, July 29th. Canaccord Genuity increased their target price on QUALCOMM from $137.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Finally, Edward Jones raised QUALCOMM from a “sell” rating to a “hold” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM has an average rating of “Buy” and a consensus price target of $112.04.
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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