Probity Advisors Inc. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 1,857 shares of the wireless technology company’s stock, valued at approximately $219,000.
Several other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of QUALCOMM by 40.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,676,979 shares of the wireless technology company’s stock worth $197,347,000 after buying an additional 482,552 shares during the last quarter. HNP Capital LLC increased its holdings in shares of QUALCOMM by 11.6% in the 3rd quarter. HNP Capital LLC now owns 9,029 shares of the wireless technology company’s stock worth $1,309,000 after buying an additional 941 shares during the last quarter. Courier Capital LLC increased its holdings in shares of QUALCOMM by 6.5% in the 3rd quarter. Courier Capital LLC now owns 3,491 shares of the wireless technology company’s stock worth $506,000 after buying an additional 214 shares during the last quarter. Citizens National Bank Trust Department grew its holdings in QUALCOMM by 3.8% during the 3rd quarter. Citizens National Bank Trust Department now owns 8,928 shares of the wireless technology company’s stock valued at $1,051,000 after purchasing an additional 330 shares during the last quarter. Finally, Hengehold Capital Management LLC grew its holdings in QUALCOMM by 1.8% during the 3rd quarter. Hengehold Capital Management LLC now owns 5,814 shares of the wireless technology company’s stock valued at $684,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.
Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of QUALCOMM from $121.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Oppenheimer reiterated a “hold” rating on shares of QUALCOMM in a report on Thursday, November 5th. JPMorgan Chase & Co. set a $160.00 price target on shares of QUALCOMM and gave the company a “buy” rating in a report on Thursday, November 5th. Cascend Securities upped their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Finally, BidaskClub upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Wednesday, September 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Buy” and an average target price of $142.08.
In related news, EVP Donald J. Rosenberg sold 10,720 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $118.27, for a total transaction of $1,267,854.40. Following the completion of the sale, the executive vice president now owns 9,292 shares of the company’s stock, valued at $1,098,964.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Cristiano R. Amon sold 20,530 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the completion of the transaction, the president now directly owns 50,753 shares of the company’s stock, valued at approximately $6,628,341.80. The disclosure for this sale can be found here. Insiders have sold 39,741 shares of company stock valued at $4,940,651 in the last three months. 0.12% of the stock is currently owned by corporate insiders.
NASDAQ:QCOM traded down $0.94 during midday trading on Tuesday, reaching $148.13. 131,589 shares of the stock traded hands, compared to its average volume of 10,048,552. QUALCOMM Incorporated has a 12-month low of $58.00 and a 12-month high of $149.41. The business has a 50-day moving average of $128.60 and a two-hundred day moving average of $104.55. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97. The stock has a market capitalization of $168.60 billion, a PE ratio of 62.90, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 4th. The wireless technology company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.28. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. QUALCOMM’s revenue for the quarter was up 35.3% compared to the same quarter last year. Research analysts anticipate that QUALCOMM Incorporated will post 3.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.76%. QUALCOMM’s payout ratio is 91.55%.
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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