WFA of San Diego LLC Purchases Shares of 25,190 QUALCOMM, Inc. (NASDAQ:QCOM)

WFA of San Diego LLC purchased a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,190 shares of the wireless technology company’s stock, valued at approximately $2,298,000. QUALCOMM makes up 0.8% of WFA of San Diego LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors also recently modified their holdings of QCOM. Hexavest Inc. increased its stake in shares of QUALCOMM by 109.6% in the second quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 171 shares during the period. Hoover Financial Advisors Inc. purchased a new stake in QUALCOMM during the second quarter worth $46,000. S.A. Mason LLC boosted its holdings in QUALCOMM by 70.4% during the second quarter. S.A. Mason LLC now owns 605 shares of the wireless technology company’s stock worth $55,000 after buying an additional 250 shares in the last quarter. Tarbox Family Office Inc. boosted its holdings in QUALCOMM by 35.7% during the second quarter. Tarbox Family Office Inc. now owns 616 shares of the wireless technology company’s stock worth $56,000 after buying an additional 162 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in QUALCOMM during the second quarter worth $57,000. Institutional investors and hedge funds own 74.79% of the company’s stock.

In other QUALCOMM news, EVP Donald J. Rosenberg sold 11,038 shares of QUALCOMM stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $87.68, for a total transaction of $967,811.84. Following the completion of the sale, the executive vice president now directly owns 3,591 shares in the company, valued at $314,858.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven M. Mollenkopf sold 219,131 shares of QUALCOMM stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $93.66, for a total transaction of $20,523,809.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 234,148 shares of company stock valued at $21,899,420. 0.12% of the stock is owned by company insiders.

A number of analysts recently issued reports on QCOM shares. Mizuho reissued a “buy” rating and set a $105.00 price target (up from $91.00) on shares of QUALCOMM in a report on Wednesday, July 29th. Raymond James increased their price target on shares of QUALCOMM from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 30th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $90.00 price target on the stock in a report on Friday, June 12th. Bank of America increased their price target on shares of QUALCOMM from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Deutsche Bank increased their price objective on shares of QUALCOMM from $115.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $110.87.

QUALCOMM stock traded up $3.36 during midday trading on Tuesday, hitting $116.82. 446,334 shares of the stock were exchanged, compared to its average volume of 10,562,950. QUALCOMM, Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $123.93. The stock has a market capitalization of $128.01 billion, a price-to-earnings ratio of 49.51, a PEG ratio of 1.79 and a beta of 1.36. The stock’s 50-day simple moving average is $111.29 and its 200 day simple moving average is $87.83. The company has a current ratio of 1.97, a quick ratio of 1.67 and a debt-to-equity ratio of 4.67.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the business earned $0.80 earnings per share. QUALCOMM’s revenue was down .1% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM, Inc. will post 3.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, September 2nd. QUALCOMM’s payout ratio is currently 91.55%.

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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