Marco Investment Management LLC Has $29.10 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Marco Investment Management LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,625 shares of the wireless technology company’s stock after acquiring an additional 2,905 shares during the quarter. QUALCOMM makes up approximately 3.4% of Marco Investment Management LLC’s holdings, making the stock its 2nd largest position. Marco Investment Management LLC’s holdings in QUALCOMM were worth $29,104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Investment Management Associates Inc. ADV grew its stake in QUALCOMM by 67.2% during the 1st quarter. Investment Management Associates Inc. ADV now owns 47,158 shares of the wireless technology company’s stock worth $6,253,000 after buying an additional 18,957 shares during the last quarter. Brookstone Capital Management bought a new position in QUALCOMM during the 2nd quarter worth $2,755,000. Baird Financial Group Inc. grew its stake in QUALCOMM by 13.1% during the 1st quarter. Baird Financial Group Inc. now owns 883,254 shares of the wireless technology company’s stock worth $117,110,000 after buying an additional 102,003 shares during the last quarter. South Dakota Investment Council boosted its position in QUALCOMM by 4.9% during the 1st quarter. South Dakota Investment Council now owns 17,187 shares of the wireless technology company’s stock worth $2,279,000 after acquiring an additional 800 shares during the period. Finally, Verity & Verity LLC boosted its position in QUALCOMM by 14.6% during the 1st quarter. Verity & Verity LLC now owns 53,655 shares of the wireless technology company’s stock worth $7,136,000 after acquiring an additional 6,825 shares during the period. Institutional investors and hedge funds own 71.77% of the company’s stock.

Shares of QCOM traded down $1.39 during trading hours on Monday, hitting $132.21. 199,168 shares of the company were exchanged, compared to its average volume of 8,832,030. The company has a market cap of $149.13 billion, a PE ratio of 16.47, a PEG ratio of 0.94 and a beta of 1.29. The firm’s 50 day moving average is $143.87 and its 200-day moving average is $137.86. QUALCOMM Incorporated has a 52 week low of $108.30 and a 52 week high of $167.94. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.45 and a current ratio of 1.72.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 28th. The wireless technology company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. QUALCOMM had a return on equity of 102.31% and a net margin of 28.25%. The firm had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.58 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Thursday, September 2nd will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, September 1st. This represents a $2.72 annualized dividend and a yield of 2.06%. QUALCOMM’s payout ratio is 81.44%.

A number of research analysts have issued reports on QCOM shares. Mizuho boosted their price target on QUALCOMM from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Canaccord Genuity reiterated a “buy” rating and set a $225.00 price target (up previously from $200.00) on shares of QUALCOMM in a research report on Thursday, August 12th. The Goldman Sachs Group upgraded QUALCOMM from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $136.00 to $148.00 in a research report on Monday, July 19th. Morgan Stanley boosted their price target on QUALCOMM from $173.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th. Finally, KeyCorp upped their price objective on QUALCOMM from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Buy” and a consensus target price of $167.81.

QUALCOMM Company Profile

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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