QUALCOMM, Inc. (QCOM) Shares Bought by Iowa State Bank
Iowa State Bank increased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,202 shares of the wireless technology company’s stock after acquiring an additional 920 shares during the period. QUALCOMM makes up about 1.6% of Iowa State Bank’s portfolio, making the stock its 27th biggest holding. Iowa State Bank’s holdings in QUALCOMM were worth $3,433,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of QUALCOMM by 9,505.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock valued at $591,000 after buying an additional 33,262,770 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of QUALCOMM by 24.1% during the 4th quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after buying an additional 5,022,323 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of QUALCOMM by 0.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock valued at $1,147,095,000 after buying an additional 96,527 shares during the last quarter. Morgan Stanley raised its stake in shares of QUALCOMM by 163.2% during the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after buying an additional 11,713,988 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of QUALCOMM by 33.5% during the 3rd quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock valued at $1,338,363,000 after buying an additional 4,662,437 shares during the last quarter. Institutional investors own 83.69% of the company’s stock.
QCOM stock opened at $57.86 on Friday. The company has a debt-to-equity ratio of 4.25, a quick ratio of 1.38 and a current ratio of 1.54. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $76.50. The stock has a market capitalization of $69.81 billion, a P/E ratio of 18.14, a PEG ratio of 1.82 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Wednesday, March 6th. QUALCOMM’s payout ratio is 77.74%.
In related news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares in the company, valued at approximately $3,161,775.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.
QCOM has been the subject of a number of recent research reports. Barclays reiterated a “buy” rating and set a $70.00 price objective on shares of QUALCOMM in a research note on Friday, January 18th. Raymond James set a $65.00 price target on QUALCOMM and gave the company a “buy” rating in a research note on Saturday, February 2nd. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. BidaskClub upgraded QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Bank of America restated a “neutral” rating and issued a $60.00 price target (down previously from $67.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $65.95.
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QUALCOMM Company Profile
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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