Bristol Advisors LLC Raises Position in QUALCOMM Incorporated (QCOM)
Bristol Advisors LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 89.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,800 shares of the wireless technology company’s stock after acquiring an additional 8,900 shares during the quarter. QUALCOMM comprises about 0.7% of Bristol Advisors LLC’s portfolio, making the stock its 14th largest holding. Bristol Advisors LLC’s holdings in QUALCOMM were worth $1,038,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of QCOM. Jacobi Capital Management LLC boosted its position in shares of QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after acquiring an additional 250 shares during the last quarter. Alpha Windward LLC boosted its position in shares of QUALCOMM by 6.1% during the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after acquiring an additional 153 shares during the last quarter. Welch Group LLC boosted its position in shares of QUALCOMM by 2.3% during the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after acquiring an additional 69 shares during the last quarter. American National Bank boosted its position in shares of QUALCOMM by 28.7% during the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 812 shares during the last quarter. Finally, Ronald Blue & Co. LLC boosted its position in shares of QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after acquiring an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 52.38 on Tuesday. The stock has a market cap of $77.32 billion, a P/E ratio of 20.06 and a beta of 1.28. The firm’s 50-day moving average is $51.84 and its 200-day moving average is $54.30. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. Equities research analysts predict that QUALCOMM Incorporated will post $4.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.35%. QUALCOMM’s dividend payout ratio is presently 87.36%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 5,810 shares of company stock worth $301,596 in the last three months. Corporate insiders own 0.24% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Northland Securities lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $75.00 to $62.50 in a research report on Wednesday, June 28th. Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. BMO Capital Markets restated a “market perform” rating and set a $55.00 target price on shares of QUALCOMM in a research report on Thursday, August 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $55.00 target price on shares of QUALCOMM in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $64.00.
ILLEGAL ACTIVITY WARNING: “Bristol Advisors LLC Raises Position in QUALCOMM Incorporated (QCOM)” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/10/17/bristol-advisors-llc-raises-position-in-qualcomm-incorporated-qcom.html.
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.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM).
Receive News & Stock Ratings for QUALCOMM Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM Incorporated and related stocks with our FREE daily email newsletter.