Westover Capital Advisors LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the third quarter, Holdings Channel reports. The firm owned 15,306 shares of the wireless technology company’s stock after buying an additional 576 shares during the period. Westover Capital Advisors LLC’s holdings in QUALCOMM were worth $1,048,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Orrstown Financial Services Inc. raised its stake in shares of QUALCOMM by 53.2% in the third quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 565 shares in the last quarter. Kelman Lazarov Inc. raised its stake in shares of QUALCOMM by 6.1% in the third quarter. Kelman Lazarov Inc. now owns 1,735 shares of the wireless technology company’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of QUALCOMM by 4.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,785 shares of the wireless technology company’s stock valued at $122,000 after buying an additional 81 shares during the period. Penserra Capital Management LLC raised its stake in shares of QUALCOMM by 94.0% in the third quarter. Penserra Capital Management LLC now owns 1,911 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 926 shares during the period. Finally, Peddock Capital Advisors LLC purchased a new stake in shares of QUALCOMM during the third quarter valued at $149,000. Institutional investors and hedge funds own 79.20% of the company’s stock.
QUALCOMM Incorporated (NASDAQ:QCOM) traded up 2.12% during trading on Friday, hitting $54.00. 14,042,202 shares of the company traded hands. QUALCOMM Incorporated has a one year low of $45.40 and a one year high of $71.62. The firm has a 50 day moving average of $60.21 and a 200 day moving average of $63.99. The firm has a market cap of $79.76 billion, a P/E ratio of 16.47 and a beta of 1.31.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 25th. The wireless technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The company earned $5.99 billion during the quarter, compared to the consensus estimate of $6.12 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. On average, analysts expect that QUALCOMM Incorporated will post $4.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Monday, February 27th. QUALCOMM’s payout ratio is 64.63%.
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Several equities research analysts recently weighed in on the company. Instinet decreased their price objective on QUALCOMM to $65.00 in a report on Thursday, January 26th. Cowen and Company decreased their price objective on QUALCOMM to $73.00 in a report on Thursday, January 26th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of QUALCOMM in a research note on Monday, January 30th. RBC Capital Markets cut their target price on QUALCOMM from $70.00 to $60.00 and set a “sector perform” rating for the company in a research note on Thursday, January 26th. Finally, Brean Capital restated a “hold” rating on shares of QUALCOMM in a research note on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.66.
In other news, SVP John Francis Murphy sold 9,344 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $68.24, for a total transaction of $637,634.56. Following the completion of the transaction, the senior vice president now directly owns 9,122 shares of the company’s stock, valued at approximately $622,485.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Cristiano R. Amon acquired 18,815 shares of QUALCOMM stock in a transaction dated Friday, February 3rd. The shares were acquired at an average cost of $53.13 per share, with a total value of $999,640.95. The disclosure for this purchase can be found here. Insiders have sold a total of 60,758 shares of company stock valued at $4,050,326 over the last ninety days. 0.17% of the stock is owned by insiders.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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