WESPAC Advisors LLC Invests $2.17 Million in QUALCOMM, Inc. (NASDAQ:QCOM)

WESPAC Advisors LLC acquired a new position in QUALCOMM, Inc. (NASDAQ:QCOM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 24,614 shares of the wireless technology company’s stock, valued at approximately $2,172,000. QUALCOMM comprises approximately 2.1% of WESPAC Advisors LLC’s holdings, making the stock its 6th largest position.

Several other hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at approximately $224,000. Country Club Trust Company n.a. grew its holdings in QUALCOMM by 6.6% in the 3rd quarter. Country Club Trust Company n.a. now owns 3,931 shares of the wireless technology company’s stock valued at $301,000 after buying an additional 245 shares during the last quarter. Mechanics Bank Trust Department acquired a new stake in QUALCOMM in the 3rd quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. grew its holdings in QUALCOMM by 10.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 21,666 shares of the wireless technology company’s stock valued at $1,653,000 after buying an additional 2,048 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in QUALCOMM by 4.4% in the 3rd quarter. Stephens Inc. AR now owns 71,950 shares of the wireless technology company’s stock valued at $5,488,000 after buying an additional 3,012 shares during the last quarter. 77.19% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:QCOM traded down $1.57 during trading on Tuesday, hitting $88.03. 7,186,603 shares of the stock were exchanged, compared to its average volume of 9,445,827. QUALCOMM, Inc. has a 1-year low of $51.60 and a 1-year high of $96.17. The company has a market capitalization of $102.42 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.25 and a beta of 1.56. The company’s fifty day simple moving average is $89.60 and its 200-day simple moving average is $82.55. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.61 and a current ratio of 1.76.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.14. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.86 billion. QUALCOMM had a return on equity of 66.54% and a net margin of 17.31%. QUALCOMM’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, research analysts forecast that QUALCOMM, Inc. will post 3.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, March 4th. QUALCOMM’s dividend payout ratio is 87.32%.

A number of analysts have issued reports on the company. Cowen raised their target price on QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. UBS Group raised their target price on QUALCOMM from $87.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Mizuho reaffirmed a “buy” rating and issued a $100.00 target price on shares of QUALCOMM in a report on Wednesday, February 5th. Finally, Citigroup raised QUALCOMM from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $89.00 to $108.00 in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. QUALCOMM currently has a consensus rating of “Buy” and an average price target of $94.38.

In related news, EVP Donald J. Rosenberg sold 28,729 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $84.51, for a total value of $2,427,887.79. Following the sale, the executive vice president now owns 18,431 shares of the company’s stock, valued at approximately $1,557,603.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 5,237 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $89.00, for a total value of $466,093.00. Following the completion of the sale, the chief financial officer now directly owns 19,018 shares in the company, valued at approximately $1,692,602. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,458 shares of company stock worth $9,349,683. 0.12% of the stock is owned by insiders.

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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