Trading Report: Today, Garrison Bradford & Associates Inc. invests in Qualcomm Inc. (QCOM) Shares

Today, Garrison Bradford & Associates Inc. invests in Qualcomm Inc. (QCOM) Shares

Garrison Bradford & Associates Inc. raised its position in shares of Qualcomm Inc. (NASDAQ:QCOM) by 0.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,022 shares of the wireless technology company’s stock after buying an additional 3 shares during the period. Qualcomm accounts for 1.2% of Garrison Bradford & Associates Inc.’s portfolio, making the stock its 19th largest position. Garrison Bradford & Associates Inc.’s holdings in Qualcomm were worth $1,235,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of Qualcomm during the first quarter worth approximately $14,619,000. Magnetar Financial LLC purchased a new stake in shares of Qualcomm during the first quarter worth approximately $217,000. Quantum Capital Management increased its stake in shares of Qualcomm by 14.7% in the first quarter. Quantum Capital Management now owns 14,908 shares of the wireless technology company’s stock worth $762,000 after buying an additional 1,910 shares in the last quarter. Logan Capital Management Inc. increased its stake in shares of Qualcomm by 0.8% in the first quarter. Logan Capital Management Inc. now owns 23,686 shares of the wireless technology company’s stock worth $1,211,000 after buying an additional 184 shares in the last quarter. Finally, Oak Associates Ltd. OH increased its stake in shares of Qualcomm by 2.0% in the first quarter. Oak Associates Ltd. OH now owns 270,455 shares of the wireless technology company’s stock worth $13,831,000 after buying an additional 5,302 shares in the last quarter. 77.86% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Qualcomm Inc. (NASDAQ:QCOM) remained flat at $68.13 on Thursday. The stock has a 50-day moving average price of $67.23 and a 200 day moving average price of $60.60. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $71.62. The stock has a market cap of $100.62 billion, a price-to-earnings ratio of 17.88 and a beta of 1.36.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. Qualcomm’s revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, analysts forecast that Qualcomm Inc. will post $4.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be issued a $0.53 dividend. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.11%. Qualcomm’s dividend payout ratio (DPR) is presently 55.64%.

QCOM has been the subject of several analyst reports. Credit Suisse Group AG restated a “buy” rating and set a $70.00 target price on shares of Qualcomm in a research report on Wednesday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $70.00 target price on shares of Qualcomm in a research report on Monday, August 15th. Vetr upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $66.21 target price for the company in a research report on Wednesday, August 31st. Standpoint Research upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Thursday, August 25th. Finally, Mizuho upgraded Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, September 29th. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Qualcomm has an average rating of “Buy” and a consensus price target of $66.03.

In related news, EVP Michelle M. Sterling sold 9,810 shares of Qualcomm stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $66.53, for a total value of $652,659.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stiles Barbara Alexander sold 22,000 shares of Qualcomm stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $68.52, for a total transaction of $1,507,440.00. Following the completion of the transaction, the director now owns 2,440 shares of the company’s stock, valued at $167,188.80. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Qualcomm Company Profile

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.

Related posts

Leave a Comment