Endurance Wealth Management Inc. Raises Stake in QUALCOMM Incorporated (QCOM)
Endurance Wealth Management Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,313 shares of the wireless technology company’s stock after purchasing an additional 953 shares during the quarter. QUALCOMM accounts for approximately 3.6% of Endurance Wealth Management Inc.’s portfolio, making the stock its 3rd largest position. Endurance Wealth Management Inc.’s holdings in QUALCOMM were worth $21,498,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC lifted its position in QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after buying an additional 250 shares during the last quarter. Alpha Windward LLC lifted its position in QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after buying an additional 153 shares during the last quarter. Welch Group LLC lifted its position in QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares during the last quarter. American National Bank lifted its position in QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after buying an additional 812 shares during the last quarter. Finally, Ronald Blue & Co. LLC lifted its position in QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after buying an additional 18 shares during the last quarter. 76.97% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday. Northland Securities upgraded QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price objective for the company in a research report on Friday, September 15th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. William Blair reiterated a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, September 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $63.60.
In other news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares in the company, valued at $324,249.90. 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 4,740 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders have sold 28,914 shares of company stock valued at $1,581,095 in the last three months. Insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.35 on Friday. The stock has a 50 day moving average price of $51.68 and a 200 day moving average price of $54.51. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The company has a market cap of $77.27 billion, a P/E ratio of 20.05 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. QUALCOMM’s quarterly revenue 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 research analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were issued a dividend of $0.57 per share. The ex-dividend date was Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.36%. QUALCOMM’s payout ratio is currently 87.36%.
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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