Tiedemann Advisors LLC Acquires 1,212 Shares of QUALCOMM, Inc. (NASDAQ:QCOM)
Tiedemann Advisors LLC boosted its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 39.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,288 shares of the wireless technology company’s stock after purchasing an additional 1,212 shares during the period. Tiedemann Advisors LLC’s holdings in QUALCOMM were worth $326,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of QCOM. Private Trust Co. NA increased its holdings in QUALCOMM by 7.5% during the 2nd quarter. Private Trust Co. NA now owns 8,755 shares of the wireless technology company’s stock worth $665,000 after purchasing an additional 614 shares during the last quarter. Summit Financial Group Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $256,000. Swedbank purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $11,656,000. Montecito Bank & Trust purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $268,000. Finally, WINTON GROUP Ltd increased its holdings in QUALCOMM by 3,887.3% during the 2nd quarter. WINTON GROUP Ltd now owns 170,975 shares of the wireless technology company’s stock worth $13,006,000 after purchasing an additional 166,687 shares during the last quarter. Hedge funds and other institutional investors own 78.22% of the company’s stock.
Shares of NASDAQ QCOM traded up $0.90 during trading on Friday, reaching $91.38. The stock had a trading volume of 1,019,649 shares, compared to its average volume of 8,640,402. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $94.11. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.72 and a current ratio of 1.88. The stock has a market cap of $103.87 billion, a PE ratio of 32.19, a P/E/G ratio of 1.87 and a beta of 1.59. The firm’s 50 day moving average price is $80.45 and its two-hundred day moving average price is $76.67.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a yield of 2.71%. QUALCOMM’s payout ratio is currently 87.32%.
In other QUALCOMM news, Director Mark D. Mclaughlin purchased 2,705 shares of QUALCOMM stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the transaction, the director now owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Cristiano R. Amon sold 8,611 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.03, for a total value of $689,138.33. Following the transaction, the president now owns 50,434 shares of the company’s stock, valued at approximately $4,036,233.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,118 shares of company stock valued at $1,477,392. 0.11% of the stock is owned by company insiders.
Several research firms have issued reports on QCOM. Mizuho upgraded QUALCOMM from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $100.00 in a report on Friday. Bank of America dropped their price objective on QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Daiwa Capital Markets began coverage on QUALCOMM in a report on Thursday, July 18th. They set a “neutral” rating on the stock. Deutsche Bank dropped their price objective on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating on the stock in a report on Thursday, August 1st. Finally, Cowen restated an “outperform” rating and set a $100.00 price objective (up from $80.00) on shares of QUALCOMM in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $86.05.
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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