Garrison Financial Corp cut its stake in Qualcomm Inc. (NASDAQ:QCOM) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,768 shares of the wireless technology company’s stock after selling 252 shares during the period. Garrison Financial Corp’s holdings in Qualcomm were worth $1,113,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in QCOM. CapWealth Advisors LLC raised its stake in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the last quarter. Joel Isaacson & Co. LLC raised its stake in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in Qualcomm during the second quarter valued at about $121,000. Delta Asset Management LLC TN raised its stake in Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 275 shares during the last quarter. Finally, Zions Bancorporation raised its stake in Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock valued at $155,000 after buying an additional 2,235 shares during the last quarter. 78.05% of the stock is owned by institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% during trading on Friday, hitting $68.19. 8,398,099 shares of the stock were exchanged. The firm’s 50 day moving average price is $63.68 and its 200-day moving average price is $56.84. Qualcomm Inc. has a 1-year low of $42.24 and a 1-year high of $70.40. The stock has a market cap of $100.49 billion, a price-to-earnings ratio of 19.97 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The business earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the business earned $0.99 EPS. Qualcomm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Qualcomm Inc. will post $4.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a yield of 3.11%. Qualcomm’s payout ratio is 62.17%.
Several research firms have recently issued reports on QCOM. Royal Bank Of Canada increased their price objective on shares of Qualcomm from $55.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, July 21st. Nomura reissued a “neutral” rating and issued a $55.00 price objective on shares of Qualcomm in a research report on Thursday, July 21st. Stifel Nicolaus increased their price objective on shares of Qualcomm from $59.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, July 21st. Mizuho raised their price target on shares of Qualcomm from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, July 21st. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of Qualcomm in a report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $63.98.
In related news, Director Raymond V. Dittamore sold 18,000 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $68.39, for a total transaction of $1,231,020.00. Following the completion of the sale, the director now directly owns 5,813 shares of the company’s stock, valued at approximately $397,551.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Matthew S. Grob sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $68.18, for a total transaction of $136,360.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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.