Westhampton Capital LLC purchased a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the second quarter, Holdings Channel.com reports. The firm purchased 4,630 shares of the wireless technology company’s stock, valued at approximately $352,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Comerica Securities Inc. lifted its stake in QUALCOMM by 1.3% in the fourth quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock worth $1,615,000 after acquiring an additional 370 shares during the last quarter. Conning Inc. lifted its position in shares of QUALCOMM by 5.7% during the 1st quarter. Conning Inc. now owns 826,550 shares of the wireless technology company’s stock worth $47,138,000 after buying an additional 44,907 shares during the last quarter. BB&T Corp lifted its position in shares of QUALCOMM by 2.8% during the 1st quarter. BB&T Corp now owns 378,359 shares of the wireless technology company’s stock worth $21,577,000 after buying an additional 10,267 shares during the last quarter. Brinker Capital Inc. lifted its position in shares of QUALCOMM by 2.6% during the 1st quarter. Brinker Capital Inc. now owns 78,669 shares of the wireless technology company’s stock worth $4,486,000 after buying an additional 1,999 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in shares of QUALCOMM by 0.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,639,009 shares of the wireless technology company’s stock worth $93,473,000 after buying an additional 9,971 shares during the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.
QCOM stock traded down $3.36 on Friday, hitting $73.79. The company’s stock had a trading volume of 9,987,042 shares, compared to its average volume of 11,026,892. The firm has a 50 day moving average of $73.99 and a two-hundred day moving average of $67.95. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34. The stock has a market cap of $92.48 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.62. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 2.46.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.62 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.36%. QUALCOMM’s dividend payout ratio is currently 77.74%.
QCOM has been the subject of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $84.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. Macquarie set a $90.00 price objective on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Mizuho restated a “hold” rating and set a $68.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. Deutsche Bank reduced their price objective on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $79.69.
In other QUALCOMM news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at approximately $97,518.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.
QUALCOMM Company Profile
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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