Private Advisor Group LLC Acquires 32,085 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Private Advisor Group LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,176 shares of the wireless technology company’s stock after acquiring an additional 32,085 shares during the quarter. Private Advisor Group LLC’s holdings in QUALCOMM were worth $16,015,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Amundi bought a new position in QUALCOMM during the second quarter worth $1,068,606,000. Boston Partners acquired a new position in QUALCOMM during the second quarter worth about $384,470,000. Morgan Stanley raised its stake in QUALCOMM by 25.5% during the second quarter. Morgan Stanley now owns 12,960,679 shares of the wireless technology company’s stock worth $1,852,471,000 after acquiring an additional 2,630,436 shares in the last quarter. Deutsche Bank AG raised its stake in QUALCOMM by 26.8% during the second quarter. Deutsche Bank AG now owns 7,000,776 shares of the wireless technology company’s stock worth $1,000,621,000 after acquiring an additional 1,477,583 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of QUALCOMM by 298.9% during the second quarter. Macquarie Group Ltd. now owns 1,173,954 shares of the wireless technology company’s stock worth $167,793,000 after purchasing an additional 879,661 shares during the last quarter. 71.66% of the stock is owned by institutional investors and hedge funds.

In other QUALCOMM news, CAO Erin L. Polek sold 2,847 shares of the firm’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $180.98, for a total transaction of $515,250.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Several brokerages recently commented on QCOM. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, November 17th. Summit Insights lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, November 3rd. JPMorgan Chase & Co. upped their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 4th. Mizuho increased their price target on QUALCOMM from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, November 17th. Finally, DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Friday, November 5th. Twelve research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $181.50.

Shares of NASDAQ:QCOM opened at $175.74 on Friday. The company has a 50-day simple moving average of $145.19 and a 200-day simple moving average of $141.69. QUALCOMM Incorporated has a one year low of $122.17 and a one year high of $188.77. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.41 and a current ratio of 1.68. The stock has a market capitalization of $196.83 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.99 and a beta of 1.31.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 3rd. The wireless technology company reported $2.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.49. QUALCOMM had a net margin of 26.94% and a return on equity of 104.16%. During the same period in the previous year, the firm earned $1.23 earnings per share. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.51 EPS for the current fiscal year.

QUALCOMM announced that its board has initiated a share buyback plan on Tuesday, October 12th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Stockholders of record on Thursday, December 2nd will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Wednesday, December 1st. QUALCOMM’s dividend payout ratio is presently 34.56%.

About QUALCOMM

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

See Also: Quantitative Easing

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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