Oxbow Advisors LLC bought a new stake in Qualcomm Inc. (NASDAQ:QCOM) during the third quarter, Holdings Channel reports. The institutional investor bought 3,035 shares of the wireless technology company’s stock, valued at approximately $207,000.
Several other large investors have also made changes to their positions in QCOM. Stock Yards Bank & Trust Co. increased its stake in shares of Qualcomm by 259.4% in the second quarter. Stock Yards Bank & Trust Co. now owns 29,427 shares of the wireless technology company’s stock valued at $1,576,000 after buying an additional 21,239 shares during the period. Integrated Investment Consultants LLC increased its stake in shares of Qualcomm by 37.3% in the second quarter. Integrated Investment Consultants LLC now owns 17,716 shares of the wireless technology company’s stock valued at $949,000 after buying an additional 4,814 shares during the period. Iowa State Bank increased its stake in shares of Qualcomm by 4.7% in the second quarter. Iowa State Bank now owns 54,353 shares of the wireless technology company’s stock valued at $2,912,000 after buying an additional 2,445 shares during the period. SevenBridge Financial Group LLC acquired a new stake in shares of Qualcomm during the first quarter valued at $520,000. Finally, Gardiner Nancy B increased its stake in shares of Qualcomm by 22.3% in the first quarter. Gardiner Nancy B now owns 7,605 shares of the wireless technology company’s stock valued at $388,000 after buying an additional 1,385 shares during the period. Institutional investors and hedge funds own 77.86% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.23% on Friday, hitting $68.29. 4,200,136 shares of the stock traded hands. The firm has a market cap of $100.86 billion, a price-to-earnings ratio of 17.92 and a beta of 1.36. The stock has a 50-day moving average of $67.26 and a 200-day moving average of $60.72. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $71.62.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.15. The company earned $9.17 billion during the quarter, compared to the consensus estimate of $5.84 billion. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. The company’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. Analysts forecast that Qualcomm Inc. will post $4.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s dividend payout ratio is 55.64%.
Several research analysts recently issued reports on the stock. BMO Capital Markets raised shares of Qualcomm from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $53.00 to $70.00 in a report on Friday, October 28th. They noted that the move was a valuation call. RBC Capital Markets reissued a “sector perform” rating and set a $70.00 price target on shares of Qualcomm in a report on Friday, October 28th. Argus reissued a “buy” rating and set a $73.00 price target (up from $70.00) on shares of Qualcomm in a report on Friday, September 30th. Vetr cut shares of Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a report on Monday, October 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, October 3rd. Seventeen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The stock 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 the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $66.53, for a total transaction of $652,659.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James H. Thompson sold 10,000 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $60.94, for a total transaction of $609,400.00. Following the sale, the executive vice president now directly owns 59,497 shares of the company’s stock, valued at $3,625,747.18. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company 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.