Buckley Wealth Management LLC cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,277 shares of the wireless technology company’s stock after selling 1,012 shares during the period. QUALCOMM comprises approximately 0.7% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position. Buckley Wealth Management LLC’s holdings in QUALCOMM were worth $1,470,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Bessemer Group Inc. lifted its stake in shares of QUALCOMM by 2.5% in the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after acquiring an additional 233 shares during the last quarter. Cincinnati Financial Corp lifted its stake in shares of QUALCOMM by 4.9% in the 2nd quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock valued at $72,837,000 after acquiring an additional 45,000 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of QUALCOMM by 996.4% in the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after acquiring an additional 13,893,238 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of QUALCOMM by 65.1% in the 1st quarter. Nordea Investment Management AB now owns 436,913 shares of the wireless technology company’s stock valued at $24,915,000 after acquiring an additional 172,283 shares during the last quarter. Finally, FLC Capital Advisors lifted its stake in shares of QUALCOMM by 36.1% in the 2nd quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock valued at $578,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 78.45% of the company’s stock.
NASDAQ QCOM traded up $1.73 on Friday, reaching $76.70. The company had a trading volume of 7,277,949 shares, compared to its average volume of 6,005,600. The firm has a market cap of $88.56 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 1.73 and a beta of 1.59. QUALCOMM, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $90.34. The business has a 50 day moving average of $76.75 and a two-hundred day moving average of $73.56. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.61.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. QUALCOMM’s payout ratio is currently 77.74%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 10,398 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $779,953.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin L. Polek sold 1,478 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the sale, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,985 shares of company stock valued at $892,245. Company insiders own 0.11% of the company’s stock.
QCOM has been the subject of a number of research reports. Canaccord Genuity set a $87.00 price target on QUALCOMM and gave the company a “buy” rating in a research note on Monday, August 26th. Barclays cut QUALCOMM from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $90.00 to $75.00 in a research note on Thursday, July 18th. Daiwa Capital Markets initiated coverage on QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. Deutsche Bank dropped their price target on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price target on shares of QUALCOMM in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. QUALCOMM presently has an average rating of “Buy” and a consensus price target of $79.68.
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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