Qualcomm Inc. (QCOM) Position Raised by Wade G W & Inc.
Wade G W & Inc. increased its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 14.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,237 shares of the wireless technology company’s stock after buying an additional 8,884 shares during the period. Wade G W & Inc.’s holdings in Qualcomm were worth $4,743,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its position in Qualcomm by 9.4% in the second quarter. Raymond James Trust N.A. now owns 103,225 shares of the wireless technology company’s stock valued at $5,529,000 after buying an additional 8,845 shares in the last quarter. Baxter Bros Inc. acquired a new stake in shares of Qualcomm during the second quarter worth approximately $3,617,000. Howland Capital Management LLC boosted its stake in shares of Qualcomm by 5.0% in the second quarter. Howland Capital Management LLC now owns 220,779 shares of the wireless technology company’s stock worth $11,827,000 after buying an additional 10,513 shares during the last quarter. Carl Domino Inc acquired a new stake in shares of Qualcomm during the second quarter worth approximately $1,160,000. Finally, Cullinan Associates Inc. boosted its stake in shares of Qualcomm by 6.4% in the second quarter. Cullinan Associates Inc. now owns 38,050 shares of the wireless technology company’s stock worth $2,038,000 after buying an additional 2,300 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded down 0.49% during mid-day trading on Tuesday, hitting $66.77. 6,459,864 shares of the company’s stock were exchanged. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $71.62. The stock has a market capitalization of $98.61 billion, a P/E ratio of 17.52 and a beta of 1.36. The firm has a 50 day moving average of $67.23 and a 200 day moving average of $60.96.
Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.15. The firm earned $9.17 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. The business’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. Equities analysts forecast that Qualcomm Inc. will post $4.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s payout ratio is currently 55.64%.
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A number of equities research analysts have recently commented on the stock. Mizuho upped their target price on shares of Qualcomm from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, September 6th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $53.00 target price on shares of Qualcomm in a report on Sunday, October 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Qualcomm in a report on Tuesday, September 20th. Pacific Crest reissued a “buy” rating and set a $83.00 price target on shares of Qualcomm in a report on Thursday, November 3rd. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $70.00 price target on shares of Qualcomm in a report on Friday, October 28th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $66.05.
In other news, Director Stiles Barbara Alexander sold 22,000 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $68.52, for a total value of $1,507,440.00. Following the completion of the transaction, the director now owns 2,440 shares in the company, valued at approximately $167,188.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP James H. Thompson sold 10,000 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $60.94, for a total transaction of $609,400.00. Following the completion of the transaction, the executive vice president now owns 59,497 shares of the company’s stock, valued at approximately $3,625,747.18. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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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