QUALCOMM, Inc. (NASDAQ:QCOM) Shares Bought by R.H. Dinel Investment Counsel Inc.
R.H. Dinel Investment Counsel Inc. grew its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,975 shares of the wireless technology company’s stock after acquiring an additional 7,250 shares during the quarter. QUALCOMM comprises about 4.2% of R.H. Dinel Investment Counsel Inc.’s holdings, making the stock its 7th largest position. R.H. Dinel Investment Counsel Inc.’s holdings in QUALCOMM were worth $4,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Weaver Consulting Group purchased a new position in shares of QUALCOMM during the 1st quarter valued at approximately $25,000. Farmers National Bank acquired a new stake in QUALCOMM in the first quarter worth $26,000. Meridian Wealth Management LLC acquired a new stake in QUALCOMM in the first quarter worth $26,000. Ibex Wealth Advisors acquired a new stake in QUALCOMM in the second quarter worth $28,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in QUALCOMM in the first quarter worth $29,000. 77.19% of the stock is owned by institutional investors.
In other news, SVP Erin L. Polek sold 1,478 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the transaction, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 5,560 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. QUALCOMM’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. As a group, equities research analysts forecast that QUALCOMM, Inc. will post 2.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.62 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.43%. QUALCOMM’s dividend payout ratio is 77.74%.
Several equities research analysts have weighed in on QCOM shares. DZ Bank reaffirmed a “sell” rating on shares of QUALCOMM in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on QUALCOMM from $88.00 to $96.00 and gave the stock a “positive” rating in a research note on Thursday, May 2nd. TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Canaccord Genuity decreased their price target on QUALCOMM from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Cfra set a $80.00 price target on QUALCOMM and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and a consensus target price of $79.93.
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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