QUALCOMM, Inc. (QCOM) Shares Bought by Spinnaker Trust

Spinnaker Trust increased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,860 shares of the wireless technology company’s stock after purchasing an additional 2,352 shares during the period. Spinnaker Trust’s holdings in QUALCOMM were worth $934,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of QCOM. Garde Capital Inc. grew its position in QUALCOMM by 77.8% during the third quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock valued at $894,000 after acquiring an additional 7,547 shares during the last quarter. Global Financial Private Capital LLC grew its position in QUALCOMM by 8.1% during the fourth quarter. Global Financial Private Capital LLC now owns 39,953 shares of the wireless technology company’s stock valued at $2,558,000 after acquiring an additional 3,000 shares during the last quarter. Middleton & Co Inc MA grew its position in QUALCOMM by 4.2% during the fourth quarter. Middleton & Co Inc MA now owns 92,050 shares of the wireless technology company’s stock valued at $5,893,000 after acquiring an additional 3,750 shares during the last quarter. First Heartland Consultants Inc. grew its position in QUALCOMM by 29.2% during the third quarter. First Heartland Consultants Inc. now owns 9,745 shares of the wireless technology company’s stock valued at $505,000 after acquiring an additional 2,203 shares during the last quarter. Finally, Sentry Investment Management LLC grew its position in QUALCOMM by 2.0% during the fourth quarter. Sentry Investment Management LLC now owns 118,977 shares of the wireless technology company’s stock valued at $7,617,000 after acquiring an additional 2,347 shares during the last quarter. Institutional investors own 76.92% of the company’s stock.

Shares of QCOM stock opened at $59.08 on Friday. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $69.28. The firm has a market capitalization of $87.22 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.89 and a beta of 1.47. The company has a quick ratio of 3.46, a current ratio of 3.60 and a debt-to-equity ratio of 0.81.



QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 25th. The wireless technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.10. QUALCOMM had a positive return on equity of 16.48% and a negative net margin of 20.16%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.21 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The firm’s revenue was down 13.3% on a year-over-year basis. sell-side analysts anticipate that QUALCOMM, Inc. will post 2.71 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Wednesday, May 30th will be paid a $0.62 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, May 29th. This represents a $2.48 dividend on an annualized basis and a yield of 4.20%. QUALCOMM’s dividend payout ratio (DPR) is presently 60.32%.

QUALCOMM declared that its board has initiated a share repurchase program on Wednesday, May 9th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the wireless technology company to reacquire up to 12.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

QCOM has been the topic of a number of recent research reports. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price target on the stock in a research report on Friday, January 26th. Royal Bank of Canada increased their price target on shares of QUALCOMM from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Northland Securities reissued a “buy” rating and set a $75.00 price objective on shares of QUALCOMM in a research note on Thursday, February 1st. KeyCorp increased their price objective on QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $63.67.

In other QUALCOMM news, EVP James H. Thompson sold 50,126 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.66, for a total value of $3,140,895.16. Following the completion of the transaction, the executive vice president now owns 136,482 shares in the company, valued at $8,551,962.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 663 shares of the stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $56.59, for a total value of $37,519.17. Following the completion of the transaction, the executive vice president now owns 8,794 shares of the company’s stock, valued at approximately $497,652.46. The disclosure for this sale can be found here. Insiders sold 80,383 shares of company stock valued at $4,762,616 in the last ninety days. 0.17% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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