Cooper Financial Group grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 25.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,716 shares of the wireless technology company’s stock after purchasing an additional 543 shares during the period. Cooper Financial Group’s holdings in QUALCOMM were worth $347,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in QUALCOMM by 1.5% during the first quarter. Vanguard Group Inc. now owns 105,592,786 shares of the wireless technology company’s stock worth $16,136,689,000 after buying an additional 1,570,961 shares during the period. BlackRock Inc. raised its stake in shares of QUALCOMM by 0.8% in the first quarter. BlackRock Inc. now owns 82,022,847 shares of the wireless technology company’s stock valued at $12,534,730,000 after acquiring an additional 643,310 shares during the period. State Street Corp lifted its holdings in shares of QUALCOMM by 3.3% in the 4th quarter. State Street Corp now owns 49,174,315 shares of the wireless technology company’s stock worth $8,992,507,000 after acquiring an additional 1,553,359 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of QUALCOMM by 10.6% during the 4th quarter. Alliancebernstein L.P. now owns 20,174,284 shares of the wireless technology company’s stock worth $3,689,271,000 after purchasing an additional 1,934,339 shares during the period. Finally, Norges Bank bought a new position in QUALCOMM during the 4th quarter valued at about $2,266,923,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on QCOM. DZ Bank lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 target price for the company. in a research report on Friday, July 29th. Edward Jones raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Canaccord Genuity Group reduced their target price on QUALCOMM from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Piper Sandler cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of QUALCOMM from $190.00 to $170.00 in a research note on Wednesday, July 20th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.04.
QUALCOMM Trading Down 0.0 %
QUALCOMM (NASDAQ:QCOM – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.52 by $0.44. The firm had revenue of $10.93 billion during the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. QUALCOMM’s revenue was up 36.7% on a year-over-year basis. During the same period last year, the firm posted $1.66 EPS. On average, research analysts predict that QUALCOMM Incorporated will post 10.95 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 1st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, August 31st. QUALCOMM’s payout ratio is 26.57%.
Insider Buying and Selling
In other news, insider James J. Cathey sold 2,084 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $126.51, for a total value of $263,646.84. Following the transaction, the insider now directly owns 917 shares of the company’s stock, valued at $116,009.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is currently owned by company insiders.
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
- Get a free copy of the StockNews.com research report on QUALCOMM (QCOM)
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