Coastline Trust Co Has $1.10 Million Stake in QUALCOMM, Inc. (QCOM)
Coastline Trust Co grew its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 42.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,210 shares of the wireless technology company’s stock after purchasing an additional 6,370 shares during the quarter. Coastline Trust Co’s holdings in QUALCOMM were worth $1,100,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Westwood Holdings Group Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at $114,000. Krilogy Financial LLC grew its position in shares of QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at $141,000. Jacobi Capital Management LLC grew its position in QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position in QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after purchasing an additional 842 shares during the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.
Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at $65.04 on Thursday. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28. The company has a market cap of $96,280.00, a price-to-earnings ratio of -22.98, a PEG ratio of 1.92 and a beta of 1.38. The company has a quick ratio of 3.25, a current ratio of 3.41 and a debt-to-equity ratio of 0.81.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently -80.57%.
In related news, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the completion of the sale, the executive vice president now owns 10,403 shares in the company, valued at $709,484.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders sold a total of 53,346 shares of company stock valued at $3,499,504 in the last 90 days. Company insiders own 0.24% of the company’s stock.
Several research analysts have issued reports on QCOM shares. BMO Capital Markets raised their price objective on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, November 2nd. UBS Group raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 8th. Royal Bank of Canada raised their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Canaccord Genuity raised their price objective on shares of QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $68.25.
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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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