QUALCOMM, Inc. (NASDAQ:QCOM) Shares Purchased by Bank of Stockton

Bank of Stockton raised its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 83.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,095 shares of the wireless technology company’s stock after buying an additional 4,600 shares during the quarter. Bank of Stockton’s holdings in QUALCOMM were worth $770,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in QCOM. Ibex Wealth Advisors purchased a new position in shares of QUALCOMM during the 2nd quarter worth $28,000. Krane Funds Advisors LLC purchased a new position in shares of QUALCOMM in the 2nd quarter worth $28,000. Hexavest Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter worth $33,000. Lenox Wealth Advisors LLC purchased a new position in shares of QUALCOMM in the 2nd quarter worth $34,000. Finally, Mechanics Bank Trust Department purchased a new position in shares of QUALCOMM in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 78.47% of the company’s stock.

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QCOM has been the topic of several research reports. Morgan Stanley set a $89.00 target price on QUALCOMM and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TheStreet raised QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday, August 1st. Mizuho set a $68.00 target price on QUALCOMM and gave the stock a “hold” rating in a research report on Monday, August 26th. Deutsche Bank lowered their price target on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a report on Thursday, August 1st. Finally, ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $79.68.

In other news, Director Mark D. Mclaughlin purchased 2,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the purchase, the director now owns 5,220 shares of the company’s stock, valued at $385,444.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Erin L. Polek sold 1,478 shares of QUALCOMM 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 completion of the transaction, 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. Insiders have sold 11,985 shares of company stock valued at $892,245 over the last 90 days. Insiders own 0.11% of the company’s stock.

Shares of QUALCOMM stock opened at $77.24 on Thursday. The business has a 50-day moving average of $77.28 and a 200-day moving average of $74.90. 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 company has a market capitalization of $95.39 billion, a PE ratio of 24.21, a P/E/G ratio of 1.87 and a beta of 1.59. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $90.34.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The company’s revenue was down 12.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. On average, equities analysts expect that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 annualized dividend and a dividend yield of 3.21%. QUALCOMM’s dividend payout ratio is presently 77.74%.

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.

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