Narwhal Capital Management Has $1.66 Million Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Narwhal Capital Management grew its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,768 shares of the wireless technology company’s stock after purchasing an additional 1,968 shares during the period. Narwhal Capital Management’s holdings in QUALCOMM were worth $1,660,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of QUALCOMM by 2.5% during the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock worth $735,000 after purchasing an additional 233 shares in the last quarter. Cincinnati Financial Corp boosted its position in shares of QUALCOMM by 4.9% during the 2nd quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock worth $72,837,000 after acquiring an additional 45,000 shares in the last quarter. Jennison Associates LLC boosted its position in shares of QUALCOMM by 996.4% during the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock worth $1,162,922,000 after acquiring an additional 13,893,238 shares in the last quarter. FLC Capital Advisors boosted its position in shares of QUALCOMM by 36.1% during the 2nd quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock worth $578,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $263,000. Hedge funds and other institutional investors own 78.35% of the company’s stock.

QUALCOMM stock traded up $3.14 during mid-day trading on Friday, reaching $83.58. The company had a trading volume of 8,618,100 shares, compared to its average volume of 5,939,153. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46. The company has a market cap of $97.79 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.91 and a beta of 1.59. The business has a fifty day simple moving average of $77.79 and a 200 day simple moving average of $75.97. QUALCOMM, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $90.34.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. Research analysts forecast that QUALCOMM, Inc. will post 2.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s payout ratio is 77.74%.

Several research firms recently issued reports on QCOM. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price target on shares of QUALCOMM in a research report on Monday, July 22nd. Morgan Stanley set a $89.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TheStreet upgraded shares of QUALCOMM from a “c+” rating to a “b-” rating in a research report on Thursday, August 1st. Daiwa Capital Markets began coverage on shares of QUALCOMM in a research report on Thursday, July 18th. They set a “neutral” rating on the stock. Finally, ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and an average target price of $79.68.

In other QUALCOMM news, President Cristiano R. Amon sold 8,611 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $80.03, for a total value of $689,138.33. Following the completion of the sale, the president now directly owns 50,434 shares in the company, valued at $4,036,233.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 10,398 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $75.01, for a total transaction of $779,953.98. The disclosure for this sale can be found here. Insiders sold 19,118 shares of company stock valued at $1,477,392 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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