Wealthcare Advisory Partners LLC lifted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 8.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,862 shares of the wireless technology company’s stock after buying an additional 147 shares during the period. Wealthcare Advisory Partners LLC’s holdings in QUALCOMM were worth $142,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mission Wealth Management LP boosted its stake in QUALCOMM by 19.2% in the third quarter. Mission Wealth Management LP now owns 5,615 shares of the wireless technology company’s stock valued at $428,000 after buying an additional 903 shares in the last quarter. Advisor Partners LLC boosted its stake in QUALCOMM by 19.8% in the third quarter. Advisor Partners LLC now owns 29,143 shares of the wireless technology company’s stock valued at $2,223,000 after buying an additional 4,822 shares in the last quarter. Signaturefd LLC boosted its stake in QUALCOMM by 9.1% in the third quarter. Signaturefd LLC now owns 8,808 shares of the wireless technology company’s stock valued at $672,000 after buying an additional 735 shares in the last quarter. Massey Quick Simon & CO. LLC boosted its stake in QUALCOMM by 28.4% in the third quarter. Massey Quick Simon & CO. LLC now owns 2,110 shares of the wireless technology company’s stock valued at $161,000 after buying an additional 467 shares in the last quarter. Finally, Jolley Asset Management LLC boosted its stake in QUALCOMM by 1.3% in the third quarter. Jolley Asset Management LLC now owns 58,674 shares of the wireless technology company’s stock valued at $4,476,000 after buying an additional 737 shares in the last quarter. 78.52% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on QCOM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price objective on shares of QUALCOMM in a research note on Monday, July 22nd. BidaskClub raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Morgan Stanley set a $89.00 price target on QUALCOMM and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $79.68.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, analysts predict that QUALCOMM, Inc. will post 2.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.19%. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
In related news, Director Mark D. Mclaughlin acquired 2,705 shares of the stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the transaction, the director now directly owns 5,220 shares of the company’s stock, valued at $385,444.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 10,398 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total value of $779,953.98. The disclosure for this sale can be found here. Insiders have sold 11,985 shares of company stock valued at $892,245 over the last 90 days. 0.11% of the stock is owned by corporate 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.
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