Essex Savings Bank Raises Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Essex Savings Bank increased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 19.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,837 shares of the wireless technology company’s stock after purchasing an additional 621 shares during the quarter. Essex Savings Bank’s holdings in QUALCOMM were worth $350,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hexavest Inc. increased its holdings in QUALCOMM by 109.6% in the second quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 171 shares during the last quarter. Harwood Advisory Group LLC bought a new stake in QUALCOMM in the first quarter valued at about $32,000. Advisory Alpha LLC increased its holdings in QUALCOMM by 493.9% in the first quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 405 shares during the last quarter. Sound Income Strategies LLC increased its holdings in QUALCOMM by 118.7% in the first quarter. Sound Income Strategies LLC now owns 503 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 273 shares during the last quarter. Finally, S.A. Mason LLC increased its holdings in QUALCOMM by 70.4% in the second quarter. S.A. Mason LLC now owns 605 shares of the wireless technology company’s stock valued at $55,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 74.50% of the company’s stock.

QCOM has been the subject of several recent research reports. Deutsche Bank upped their target price on QUALCOMM from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. Rosenblatt Securities upped their target price on QUALCOMM from $105.00 to $130.00 and gave the company a “buy” rating in a report on Thursday. Edward Jones raised QUALCOMM from a “sell” rating to a “hold” rating in a report on Friday. Royal Bank of Canada upped their target price on QUALCOMM from $81.00 to $106.00 and gave the company a “sector perform” rating in a report on Thursday. They noted that the move was a valuation call. Finally, Raymond James upped their target price on QUALCOMM from $110.00 to $120.00 and gave the company a “strong-buy” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $106.36.

In other QUALCOMM news, EVP Donald J. Rosenberg sold 11,038 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $87.68, for a total value of $967,811.84. Following the transaction, the executive vice president now owns 3,591 shares of the company’s stock, valued at $314,858.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $102.42, for a total value of $401,998.50. Following the completion of the transaction, the chief financial officer now directly owns 17,790 shares in the company, valued at approximately $1,822,051.80. The disclosure for this sale can be found here. Insiders sold 235,740 shares of company stock worth $22,024,427 in the last ninety days. 0.12% of the stock is owned by corporate insiders.

QCOM traded down $1.58 during trading on Friday, reaching $105.61. The stock had a trading volume of 16,770,274 shares, compared to its average volume of 8,403,357. The firm has a market capitalization of $120.94 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.34. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. QUALCOMM, Inc. has a 1-year low of $58.00 and a 1-year high of $107.75. The stock has a 50 day moving average of $90.67 and a two-hundred day moving average of $82.54.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.80 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, research analysts forecast that QUALCOMM, Inc. will post 3.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 2.46%. QUALCOMM’s dividend payout ratio (DPR) is 91.55%.

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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