Pure Financial Advisors Inc. Acquires 4,836 Shares of QUALCOMM Incorporated (QCOM)
Pure Financial Advisors Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 26.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,932 shares of the wireless technology company’s stock after buying an additional 4,836 shares during the period. Pure Financial Advisors Inc.’s holdings in QUALCOMM were worth $1,266,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. WealthTrust Axiom LLC boosted its position in shares of QUALCOMM by 0.3% in the 1st quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock worth $332,000 after buying an additional 15 shares in the last quarter. Excalibur Management Corp raised its stake in QUALCOMM by 0.7% in the 1st quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after purchasing an additional 31 shares during the last quarter. FCA Corp TX raised its stake in QUALCOMM by 0.9% in the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after purchasing an additional 43 shares during the last quarter. Farmers Trust Co. raised its stake in QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after purchasing an additional 48 shares during the last quarter. Finally, Welch Group LLC raised its stake in QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
Several research analysts recently weighed in on QCOM shares. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $62.37 target price for the company. in a research note on Wednesday, June 28th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a research note on Wednesday, June 28th. Stifel Nicolaus boosted their target price on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 26th. Mizuho reissued a “buy” rating and issued a $65.00 target price on shares of QUALCOMM in a research note on Friday, July 21st. Finally, Morgan Stanley boosted their target price on shares of QUALCOMM from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and a consensus price target of $63.96.
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QUALCOMM Incorporated (NASDAQ QCOM) traded up 0.2203% during trading on Friday, hitting $52.1446. The stock had a trading volume of 1,663,703 shares. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62. The company’s 50-day moving average is $52.06 and its 200 day moving average is $54.99. The firm has a market cap of $76.97 billion, a PE ratio of 19.9711 and a beta of 1.29.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Equities analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 28,995 shares of company stock worth $1,587,390 in the last ninety days. Insiders own 0.17% 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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