United Asset Strategies Inc. Has $4.73 Million Position in QUALCOMM, Inc. (QCOM)

United Asset Strategies Inc. boosted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 75.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,971 shares of the wireless technology company’s stock after acquiring an additional 35,803 shares during the quarter. QUALCOMM accounts for about 1.1% of United Asset Strategies Inc.’s investment portfolio, making the stock its 29th largest holding. United Asset Strategies Inc.’s holdings in QUALCOMM were worth $4,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. HL Financial Services LLC raised its position in shares of QUALCOMM by 0.6% in the 1st quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock worth $1,162,000 after acquiring an additional 128 shares in the last quarter. Harrington Investments INC raised its position in shares of QUALCOMM by 1.1% in the 1st quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after acquiring an additional 150 shares in the last quarter. Atlas Brown Inc. raised its position in shares of QUALCOMM by 3.5% in the 1st quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock worth $303,000 after acquiring an additional 179 shares in the last quarter. Paulson Wealth Management Inc. raised its position in shares of QUALCOMM by 3.3% in the 1st quarter. Paulson Wealth Management Inc. now owns 5,920 shares of the wireless technology company’s stock worth $338,000 after acquiring an additional 191 shares in the last quarter. Finally, Boenning & Scattergood Inc. raised its position in shares of QUALCOMM by 3.1% in the 4th quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock worth $372,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 82.04% of the company’s stock.

QCOM traded down $0.48 during trading on Friday, hitting $82.33. 363,897 shares of the company’s stock traded hands, compared to its average volume of 23,148,306. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $90.34. The company has a market cap of $104.87 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.90 and a beta of 1.45.



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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 annualized dividend and a yield of 3.01%. QUALCOMM’s dividend payout ratio is 77.74%.

In other QUALCOMM news, President Cristiano R. Amon sold 13,466 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the sale, the president now directly owns 37,614 shares in the company, valued at approximately $2,256,840. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total value of $29,031,593.40. Following the sale, the insider now owns 848,877 shares in the company, valued at $29,031,593.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 949,832 shares of company stock worth $37,443,538. Company insiders own 0.11% of the company’s stock.

Several brokerages have recently issued reports on QCOM. Zacks Investment Research lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Citigroup raised their price objective on QUALCOMM from $55.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Macquarie set a $85.00 price objective on QUALCOMM and gave the company a “buy” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. raised their price objective on QUALCOMM from $88.00 to $96.00 and gave the company a “positive” rating in a research report on Thursday, May 2nd. Finally, Rosenblatt Securities raised their price objective on QUALCOMM from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Seven 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 stock. The stock has a consensus rating of “Buy” and an average price target of $83.09.

TRADEMARK VIOLATION WARNING: This story was reported by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this story can be accessed at https://dakotafinancialnews.com/2019/05/17/united-asset-strategies-inc-has-4-73-million-position-in-qualcomm-inc-qcom.html.

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.

See Also: What are the components of an earnings report?

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.