Bridges Investment Management Inc. Has $4.02 Million Position in QUALCOMM Incorporated (QCOM)
Bridges Investment Management Inc. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,607 shares of the wireless technology company’s stock after selling 1,351 shares during the quarter. Bridges Investment Management Inc.’s holdings in QUALCOMM were worth $4,024,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Westwood Holdings Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $114,000. Krilogy Financial LLC increased its stake in QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after buying an additional 745 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $141,000. Jacobi Capital Management LLC increased its stake in QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after buying an additional 200 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares in the last quarter. 76.66% of the stock is owned by institutional investors.
QUALCOMM Incorporated (QCOM) opened at $64.76 on Friday. The firm has a market capitalization of $95,560.00, a P/E ratio of 17.17, a P/E/G ratio of 1.84 and a beta of 1.39. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 29th were given a $0.57 dividend. The ex-dividend date was Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.52%. QUALCOMM’s payout ratio is 138.18%.
In related news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders sold 29,427 shares of company stock valued at $1,827,995 over the last quarter. 0.17% of the stock is currently owned by company insiders.
QCOM has been the subject of a number of analyst reports. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and upped their price target for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, Vetr lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 price target for the company. in a research report on Thursday, November 23rd. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company’s stock. QUALCOMM has an average rating of “Hold” and a consensus price target of $66.02.
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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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