Moseley Investment Management Inc. Acquires Shares of 8,607 QUALCOMM, Inc. (NASDAQ:QCOM)

Moseley Investment Management Inc. acquired a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,607 shares of the wireless technology company’s stock, valued at approximately $491,000.

Several other institutional investors also recently made changes to their positions in QCOM. Farmers National Bank bought a new stake in QUALCOMM during the 1st quarter worth about $26,000. Field & Main Bank bought a new stake in QUALCOMM during the 1st quarter worth about $32,000. Baldwin Brothers Inc. MA bought a new stake in QUALCOMM during the 1st quarter worth about $34,000. Transamerica Financial Advisors Inc. raised its holdings in QUALCOMM by 688.5% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock worth $35,000 after purchasing an additional 537 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in QUALCOMM during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 76.27% of the company’s stock.

In other news, EVP Michelle M. Sterling sold 5,560 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total transaction of $480,606.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Erin L. Polek sold 6,118 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.26, for a total value of $546,092.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 949,832 shares of company stock valued at $37,443,538. Insiders own 0.11% of the company’s stock.

QCOM has been the subject of several analyst reports. BidaskClub upgraded QUALCOMM from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. ValuEngine upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. initiated coverage on QUALCOMM in a research report on Wednesday, March 27th. They set a “neutral” rating and a $54.00 target price for the company. Stifel Nicolaus upgraded QUALCOMM from a “hold” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $100.00 in a research report on Tuesday, April 16th. Finally, Mizuho restated a “buy” rating and set a $82.00 target price (up from $62.00) on shares of QUALCOMM in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.68.

NASDAQ:QCOM traded up $0.64 during trading hours on Friday, reaching $76.07. 29,215,610 shares of the stock were exchanged, compared to its average volume of 11,840,998. QUALCOMM, Inc. has a twelve month low of $49.10 and a twelve month high of $90.34. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. The company’s 50 day simple moving average is $72.71. The stock has a market capitalization of $91.70 billion, a PE ratio of 23.85, a PEG ratio of 1.67 and a beta of 1.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The business’s revenue was down 5.9% on a year-over-year basis. Analysts forecast that QUALCOMM, Inc. will post 3.3 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 77.74%.

About QUALCOMM

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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