QUALCOMM, Inc. (NASDAQ:QCOM) Shares Sold by Park National Corp OH

Park National Corp OH cut its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 14.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,591 shares of the wireless technology company’s stock after selling 1,315 shares during the quarter. Park National Corp OH’s holdings in QUALCOMM were worth $579,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of QCOM. Cornerstone Advisors Inc. lifted its position in shares of QUALCOMM by 54.6% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,217 shares of the wireless technology company’s stock valued at $69,000 after buying an additional 430 shares in the last quarter. First Trust Advisors LP raised its stake in QUALCOMM by 18.5% in the 1st quarter. First Trust Advisors LP now owns 2,659,746 shares of the wireless technology company’s stock valued at $151,685,000 after purchasing an additional 416,097 shares during the last quarter. Linscomb & Williams Inc. raised its stake in QUALCOMM by 2.5% in the 1st quarter. Linscomb & Williams Inc. now owns 71,976 shares of the wireless technology company’s stock valued at $4,105,000 after purchasing an additional 1,758 shares during the last quarter. Smead Capital Management Inc. acquired a new position in QUALCOMM in the 1st quarter valued at $20,832,000. Finally, Tech Square Trading LP acquired a new position in QUALCOMM in the 1st quarter valued at $1,030,000. Institutional investors own 78.45% of the company’s stock.

Shares of QCOM traded up $0.91 during midday trading on Friday, reaching $76.65. The company had a trading volume of 1,129,681 shares, compared to its average volume of 6,473,329. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $90.34. The stock has a market cap of $91.75 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. The firm has a 50 day simple moving average of $76.35 and a 200-day simple moving average of $72.89. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period last year, the company earned $1.01 EPS. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

Several research firms recently commented on QCOM. Barclays downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $90.00 to $75.00 in a research note on Thursday, July 18th. Morgan Stanley set a $89.00 price objective on QUALCOMM and gave the company a “buy” rating in a research note on Wednesday, August 21st. TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Deutsche Bank reduced their price objective on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday, August 1st. Finally, Daiwa Capital Markets began coverage on QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $79.68.

In other QUALCOMM news, Director Mark D. Mclaughlin acquired 2,705 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $73.84 per share, with a total value of $199,737.20. Following the transaction, the director now owns 5,220 shares of the company’s stock, valued at $385,444.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the sale, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at $97,518.96. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

QUALCOMM Profile

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.

Further Reading: Street Name

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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