Bartlett & Co. LLC Has $2.06 Million Stock Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)
Bartlett & Co. LLC lessened its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,934 shares of the wireless technology company’s stock after selling 354 shares during the quarter. Bartlett & Co. LLC’s holdings in QUALCOMM were worth $2,055,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Fulcrum Capital LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $290,000. Hedeker Wealth LLC boosted its holdings in shares of QUALCOMM by 1.7% in the 3rd quarter. Hedeker Wealth LLC now owns 28,618 shares of the wireless technology company’s stock valued at $2,183,000 after purchasing an additional 465 shares in the last quarter. Roanoke Asset Management Corp NY boosted its holdings in shares of QUALCOMM by 1.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 48,080 shares of the wireless technology company’s stock valued at $3,668,000 after purchasing an additional 585 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $1,402,000. Finally, Mackay Shields LLC boosted its holdings in shares of QUALCOMM by 122.4% in the 3rd quarter. Mackay Shields LLC now owns 643,678 shares of the wireless technology company’s stock valued at $49,100,000 after purchasing an additional 354,228 shares in the last quarter. 78.30% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on QCOM shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of QUALCOMM in a report on Thursday. UBS Group increased their price target on QUALCOMM from $73.00 to $87.00 and gave the company a “neutral” rating in a research note on Thursday. Argus increased their price target on QUALCOMM from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada increased their price target on QUALCOMM to $88.00 and gave the company a “sector perform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Buy” and a consensus price target of $85.18.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.71 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. QUALCOMM’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. As a group, equities research analysts expect that QUALCOMM, Inc. will post 3.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.64%. The ex-dividend date is Wednesday, December 4th. QUALCOMM’s dividend payout ratio is currently 87.32%.
In related news, Director Mark D. Mclaughlin bought 2,705 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average cost of $73.84 per share, with a total value of $199,737.20. Following the transaction, the director now directly owns 5,220 shares in the company, valued at $385,444.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michelle M. Sterling sold 10,398 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total value of $779,953.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,118 shares of company stock valued at $1,477,392. 0.11% of the stock is owned by corporate insiders.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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