Andesa Financial Management Inc. Invests $288,000 in QUALCOMM, Inc. (QCOM) Stock

Andesa Financial Management Inc. acquired a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,126 shares of the wireless technology company’s stock, valued at approximately $288,000.

Other hedge funds have also added to or reduced their stakes in the company. Lavaca Capital LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $25,000. Field & Main Bank acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $32,000. Baldwin Brothers Inc. MA acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $34,000. Transamerica Financial Advisors Inc. increased its holdings in QUALCOMM by 688.5% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 537 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $36,000. Institutional investors own 83.44% of the company’s stock.

Several research firms recently weighed in on QCOM. Zacks Investment Research downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Citigroup lifted their target price on shares of QUALCOMM from $55.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Macquarie set a $85.00 target price on shares of QUALCOMM and gave the company a “buy” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of QUALCOMM from $88.00 to $96.00 and gave the company a “positive” rating in a report on Thursday, May 2nd. Finally, Rosenblatt Securities lifted their target price on shares of QUALCOMM from $70.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $83.09.



In other QUALCOMM news, President Cristiano R. Amon sold 13,466 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the completion of the transaction, the president now owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the completion of the transaction, the insider now directly owns 848,877 shares of the company’s stock, valued at approximately $29,031,593.40. The disclosure for this sale can be found here. Insiders sold a total of 944,272 shares of company stock valued at $36,962,932 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

Shares of QCOM stock opened at $86.13 on Wednesday. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34. The company has a market capitalization of $101.85 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 1.85 and a beta of 1.45.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the company posted $0.80 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts forecast that QUALCOMM, Inc. will post 3.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be given a $0.62 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 annualized dividend and a yield of 2.88%. QUALCOMM’s dividend payout ratio is presently 77.74%.

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QUALCOMM 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.

Further Reading: Support Level

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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