Bremer Trust National Association bought a new position in shares of Qualcomm Inc. (NASDAQ:QCOM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,922 shares of the wireless technology company’s stock, valued at approximately $474,000.
Other hedge funds have also made changes to their positions in the company. ING Groep NV raised its stake in shares of Qualcomm by 11.0% in the second quarter. ING Groep NV now owns 242,400 shares of the wireless technology company’s stock worth $12,981,000 after buying an additional 24,078 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in shares of Qualcomm by 6.7% in the second quarter. Kornitzer Capital Management Inc. KS now owns 622,727 shares of the wireless technology company’s stock worth $33,359,000 after buying an additional 38,842 shares during the last quarter. Conning Inc. raised its stake in shares of Qualcomm by 4.2% in the second quarter. Conning Inc. now owns 475,737 shares of the wireless technology company’s stock worth $25,485,000 after buying an additional 19,357 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Qualcomm by 19.6% in the second quarter. Schroder Investment Management Group now owns 6,478,013 shares of the wireless technology company’s stock worth $347,027,000 after buying an additional 1,061,663 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in shares of Qualcomm during the second quarter worth approximately $10,599,000. Institutional investors own 77.86% of the company’s stock.
Qualcomm Inc. (NASDAQ:QCOM) traded up 0.23% during midday trading on Friday, reaching $68.29. The company had a trading volume of 4,200,136 shares. Qualcomm Inc. has a one year low of $42.24 and a one year high of $71.62. The stock has a market capitalization of $100.86 billion, a price-to-earnings ratio of 17.92 and a beta of 1.36. The company has a 50-day moving average price of $67.26 and a 200-day moving average price of $60.72.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.15. The company earned $9.17 billion during the quarter, compared to analyst estimates of $5.84 billion. Qualcomm had a return on equity of 19.31% and a net margin of 24.22%. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. On average, equities analysts expect that Qualcomm Inc. will post $4.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. 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%.
A number of brokerages recently commented on QCOM. Vetr lowered Qualcomm from a “strong-buy” rating to a “buy” rating and set a $76.04 price objective for the company. in a research report on Tuesday. Morgan Stanley lowered Qualcomm from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $67.88 to $65.00 in a research report on Thursday, November 10th. They noted that the move was a valuation call. Cowen and Company reiterated an “outperform” rating and issued a $74.00 price objective on shares of Qualcomm in a research report on Monday, November 7th. Canaccord Genuity reiterated a “buy” rating and issued a $81.00 price objective on shares of Qualcomm in a research report on Friday, November 4th. Finally, Pacific Crest reiterated a “buy” rating and issued a $83.00 price objective on shares of Qualcomm in a research report on Thursday, November 3rd. Seventeen 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 company. Qualcomm currently has a consensus rating of “Buy” and an average target price of $66.03.
In other Qualcomm news, EVP Matthew S. Grob sold 74,000 shares of Qualcomm stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $66.63, for a total transaction of $4,930,620.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Derek K. Aberle sold 20,874 shares of Qualcomm stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $62.81, for a total value of $1,311,095.94. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
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.