OLD Republic International Corp held its position in QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, according to its most recent filing with the SEC. The firm owned 545,000 shares of the wireless technology company’s stock at the end of the third quarter. QUALCOMM comprises about 1.3% of OLD Republic International Corp’s portfolio, making the stock its 26th largest position. OLD Republic International Corp’s holdings in QUALCOMM were worth $29,393,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Everence Capital Management Inc. purchased a new stake in QUALCOMM during the second quarter worth approximately $1,252,000. Shelton Capital Management boosted its stake in QUALCOMM by 2.4% in the second quarter. Shelton Capital Management now owns 192,978 shares of the wireless technology company’s stock worth $10,338,000 after buying an additional 4,545 shares during the period. BB&T Corp boosted its stake in QUALCOMM by 51.1% in the second quarter. BB&T Corp now owns 662,950 shares of the wireless technology company’s stock worth $35,514,000 after buying an additional 224,156 shares during the period. 1ST Source Bank boosted its stake in QUALCOMM by 3.0% in the second quarter. 1ST Source Bank now owns 34,259 shares of the wireless technology company’s stock worth $1,835,000 after buying an additional 982 shares during the period. Finally, Kanawha Capital Management LLC boosted its stake in QUALCOMM by 11.0% in the second quarter. Kanawha Capital Management LLC now owns 64,738 shares of the wireless technology company’s stock worth $3,468,000 after buying an additional 6,422 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at 54.93 on Tuesday. The firm has a market cap of $81.13 billion, a PE ratio of 16.75 and a beta of 1.31. The stock has a 50 day moving average price of $59.85 and a 200-day moving average price of $63.97. QUALCOMM Incorporated has a 52-week low of $43.08 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 25th. The wireless technology company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The business earned $5.99 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the business posted $0.97 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts anticipate that QUALCOMM Incorporated will post $4.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 64.63%.
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QCOM has been the subject of a number of research reports. Vetr cut QUALCOMM from a “buy” rating to a “hold” rating and set a $68.38 price objective for the company. in a research report on Wednesday, October 19th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of QUALCOMM in a research report on Monday, January 30th. BMO Capital Markets upgraded QUALCOMM from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $53.00 to $70.00 in a research report on Friday, October 28th. They noted that the move was a valuation call. CLSA cut QUALCOMM from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $60.00 in a research report on Monday, January 23rd. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $75.00 price objective (down previously from $80.00) on shares of QUALCOMM in a research report on Saturday, January 28th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.66.
In other QUALCOMM news, EVP Michelle M. Sterling sold 9,810 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $66.53, for a total transaction of $652,659.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cristiano R. Amon bought 18,815 shares of QUALCOMM stock in a transaction on Friday, February 3rd. The shares were purchased at an average cost of $53.13 per share, with a total value of $999,640.95. The disclosure for this purchase can be found here. Insiders sold a total of 60,758 shares of company stock valued at $4,050,326 over the last ninety days. Company 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.
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