Polaris Wealth Advisory Group LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,452 shares of the wireless technology company’s stock, valued at approximately $296,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Dallas Securities Inc. bought a new stake in shares of QUALCOMM in the 3rd quarter worth about $217,000. Arden Trust Co grew its holdings in shares of QUALCOMM by 3.7% in the 3rd quarter. Arden Trust Co now owns 10,866 shares of the wireless technology company’s stock worth $1,278,000 after purchasing an additional 392 shares during the last quarter. Vigilant Capital Management LLC grew its holdings in QUALCOMM by 1,069.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 1,333 shares of the wireless technology company’s stock worth $157,000 after acquiring an additional 1,219 shares during the last quarter. Diversified Trust Co grew its holdings in QUALCOMM by 33.8% during the 3rd quarter. Diversified Trust Co now owns 11,408 shares of the wireless technology company’s stock worth $1,342,000 after acquiring an additional 2,879 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in QUALCOMM by 3.6% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 279,745 shares of the wireless technology company’s stock worth $32,921,000 after acquiring an additional 9,766 shares during the last quarter. 74.79% of the stock is currently owned by institutional investors and hedge funds.
QCOM has been the topic of a number of research analyst reports. Edward Jones raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Friday, July 31st. Bank of America increased their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company raised shares of QUALCOMM from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $90.00 to $120.00 in a report on Tuesday, September 1st. Royal Bank of Canada increased their price objective on shares of QUALCOMM from $81.00 to $106.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of QUALCOMM from $115.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $121.58.
Shares of NASDAQ:QCOM opened at $129.03 on Friday. The company has a market capitalization of $145.58 billion, a price-to-earnings ratio of 54.44, a P/E/G ratio of 1.79 and a beta of 1.36. The firm’s 50 day simple moving average is $117.35 and its 200 day simple moving average is $95.14. The company has a debt-to-equity ratio of 4.67, a current ratio of 1.97 and a quick ratio of 1.67. QUALCOMM Incorporated has a fifty-two week low of $58.00 and a fifty-two week high of $132.42.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.71 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.80 billion. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. Equities research analysts expect that QUALCOMM Incorporated will post 3.2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $2.60 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is currently 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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