Nelson Roberts Investment Advisors LLC Has $4.94 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)
Nelson Roberts Investment Advisors LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,110 shares of the wireless technology company’s stock after buying an additional 3,365 shares during the period. QUALCOMM makes up about 1.7% of Nelson Roberts Investment Advisors LLC’s investment portfolio, making the stock its 29th largest position. Nelson Roberts Investment Advisors LLC’s holdings in QUALCOMM were worth $4,938,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. American National Bank raised its stake in QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares in the last quarter. Welch Group LLC raised its stake in QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares in the last quarter. Advantage Investment Management LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $200,000. Glassman Wealth Services raised its stake in QUALCOMM by 9.1% in the fourth quarter. Glassman Wealth Services now owns 3,094 shares of the wireless technology company’s stock valued at $202,000 after buying an additional 258 shares in the last quarter. Finally, Commonwealth Financial Services LLC raised its stake in QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after buying an additional 3,022 shares in the last quarter. Institutional investors own 76.61% of the company’s stock.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.15% on Monday, reaching $52.70. 6,560,267 shares of the company were exchanged. The stock has a 50 day moving average price of $55.44 and a 200-day moving average price of $56.02. The stock has a market capitalization of $77.79 billion, a P/E ratio of 20.18 and a beta of 1.29. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. On average, equities analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio is 87.36%.
Several equities analysts recently issued reports on QCOM shares. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub downgraded shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Northland Securities downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $75.00 to $62.50 in a research note on Wednesday, June 28th. Finally, Vetr raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target on the stock in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $63.96.
In other news, EVP Donald J. Rosenberg sold 10,701 shares of QUALCOMM stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $55.02, for a total transaction of $588,769.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the sale, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The disclosure for this sale can be found here. Insiders have sold a total of 62,802 shares of company stock valued at $3,544,381 in the last ninety days. 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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