Qualcomm Inc. (QCOM) Position Raised by Wade G W & Inc.
Wade G W & Inc. raised its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 14.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,237 shares of the wireless technology company’s stock after buying an additional 8,884 shares during the period. Wade G W & Inc.’s holdings in Qualcomm were worth $4,743,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Trust N.A. increased its position in Qualcomm by 9.4% in the second quarter. Raymond James Trust N.A. now owns 103,225 shares of the wireless technology company’s stock valued at $5,529,000 after buying an additional 8,845 shares during the last quarter. Baxter Bros Inc. purchased a new position in Qualcomm during the second quarter valued at $3,617,000. Howland Capital Management LLC increased its position in Qualcomm by 5.0% in the second quarter. Howland Capital Management LLC now owns 220,779 shares of the wireless technology company’s stock valued at $11,827,000 after buying an additional 10,513 shares during the last quarter. Carl Domino Inc purchased a new position in Qualcomm during the second quarter valued at $1,160,000. Finally, Cullinan Associates Inc. increased its position in Qualcomm by 6.4% in the second quarter. Cullinan Associates Inc. now owns 38,050 shares of the wireless technology company’s stock valued at $2,038,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded down 0.49% during trading on Tuesday, hitting $66.77. The stock had a trading volume of 6,459,864 shares. The company has a market cap of $98.61 billion, a price-to-earnings ratio of 17.52 and a beta of 1.36. Qualcomm Inc. has a 52-week low of $42.24 and a 52-week high of $71.62. The firm’s 50-day moving average price is $67.23 and its 200-day moving average price is $60.96.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.15. The firm earned $9.17 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Qualcomm had a return on equity of 19.31% and a net margin of 24.22%. The business’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Analysts predict that Qualcomm Inc. will post $4.76 EPS for the current fiscal year.
The company 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 $0.53 dividend. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a yield of 3.18%. Qualcomm’s dividend payout ratio (DPR) is 55.64%.
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Several research firms have recently weighed in on QCOM. BMO Capital Markets upgraded Qualcomm from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $53.00 to $70.00 in a research note on Friday, October 28th. They noted that the move was a valuation call. RBC Capital Markets restated a “sector perform” rating and issued a $70.00 target price on shares of Qualcomm in a research note on Friday, October 28th. Argus restated a “buy” rating and issued a $73.00 target price (up previously from $70.00) on shares of Qualcomm in a research note on Friday, September 30th. Vetr downgraded Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a research note on Monday, October 3rd. Finally, Royal Bank Of Canada raised their target price on Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, October 3rd. Seventeen analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.05.
In related news, EVP James H. Thompson sold 10,000 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $60.94, for a total value of $609,400.00. Following the completion of the transaction, the executive vice president now owns 59,497 shares in the company, valued at approximately $3,625,747.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 9,810 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $66.53, for a total value of $652,659.30. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
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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