Bernardo Wealth Planning LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 86.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,612 shares of the wireless technology company’s stock after buying an additional 2,594 shares during the period. Bernardo Wealth Planning LLC’s holdings in QUALCOMM were worth $660,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Hexavest Inc. grew its position in shares of QUALCOMM by 109.6% in the 2nd 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. Cordasco Financial Network boosted its position in shares of QUALCOMM by 96.4% during the 3rd quarter. Cordasco Financial Network now owns 377 shares of the wireless technology company’s stock valued at $44,000 after purchasing an additional 185 shares in the last quarter. Hudock Inc. boosted its position in shares of QUALCOMM by 31.4% during the 3rd quarter. Hudock Inc. now owns 381 shares of the wireless technology company’s stock valued at $44,000 after purchasing an additional 91 shares in the last quarter. Bedel Financial Consulting Inc. boosted its position in shares of QUALCOMM by 50.6% during the 3rd quarter. Bedel Financial Consulting Inc. now owns 384 shares of the wireless technology company’s stock valued at $45,000 after purchasing an additional 129 shares in the last quarter. Finally, Hoover Financial Advisors Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter valued at about $46,000. 74.79% of the stock is owned by institutional investors.
Shares of NASDAQ QCOM opened at $128.15 on Monday. The firm has a market cap of $145.41 billion, a price-to-earnings ratio of 54.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. QUALCOMM Incorporated has a 52-week low of $58.00 and a 52-week high of $132.42. The company’s 50-day simple moving average is $118.66 and its 200-day simple moving average is $97.31. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post 3.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio is currently 91.55%.
QCOM has been the topic of a number of research reports. BidaskClub raised QUALCOMM from a “hold” rating to a “buy” rating in a research note on Wednesday, September 30th. Exane BNP Paribas raised QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Friday, September 25th. Wells Fargo & Company upgraded 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 research report on Tuesday, September 1st. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, September 16th. Finally, Sanford C. Bernstein set a $135.00 price objective on QUALCOMM and gave the stock a “buy” rating in a report on Tuesday, August 11th. One 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 company. The company presently has a consensus rating of “Buy” and a consensus price target of $123.12.
In related news, CFO Akash J. Palkhiwala sold 3,925 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $102.42, for a total transaction of $401,998.50. Following the completion of the sale, the chief financial officer now owns 17,790 shares in the company, valued at approximately $1,822,051.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Cristiano R. Amon sold 20,530 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the sale, the president now owns 50,753 shares of the company’s stock, valued at approximately $6,628,341.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,720 shares of company stock valued at $5,348,451. 0.12% of the stock is owned by company insiders.
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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