Rodgers Brothers Inc. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,828 shares of the wireless technology company’s stock after buying an additional 650 shares during the quarter. Rodgers Brothers Inc.’s holdings in QUALCOMM were worth $2,099,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Wealthcare Capital Management LLC purchased a new position in QUALCOMM during the 1st quarter worth approximately $26,000. GeoWealth Management LLC increased its holdings in shares of QUALCOMM by 308.0% during the 1st quarter. GeoWealth Management LLC now owns 204 shares of the wireless technology company’s stock valued at $27,000 after purchasing an additional 154 shares in the last quarter. RMR Wealth Builders purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $30,000. Valley Brook Capital Group purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $30,000. Finally, Wagner Wealth Management LLC purchased a new position in shares of QUALCOMM during the 1st quarter valued at approximately $31,000. 72.42% of the stock is owned by institutional investors.
NASDAQ QCOM traded up $0.36 during trading hours on Thursday, reaching $142.53. The company had a trading volume of 154,569 shares, compared to its average volume of 6,634,499. The firm has a 50-day moving average price of $136.28. QUALCOMM Incorporated has a 1-year low of $87.51 and a 1-year high of $167.94. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.02 and a quick ratio of 1.72. The company has a market capitalization of $160.77 billion, a PE ratio of 20.40, a P/E/G ratio of 0.97 and a beta of 1.32.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 2nd will be given a $0.68 dividend. The ex-dividend date is Wednesday, September 1st. This represents a $2.72 dividend on an annualized basis and a yield of 1.91%. QUALCOMM’s payout ratio is currently 81.44%.
QCOM has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of QUALCOMM from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. The Goldman Sachs Group raised shares of QUALCOMM from a “sell” rating to a “neutral” rating and lifted their target price for the company from $136.00 to $148.00 in a report on Monday. KGI Securities initiated coverage on shares of QUALCOMM in a report on Tuesday, June 29th. They issued an “outperform” rating for the company. Susquehanna reissued a “neutral” rating and issued a $155.00 price target (down previously from $175.00) on shares of QUALCOMM in a report on Monday, April 26th. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $150.00 price target for the company. in a report on Wednesday, June 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $165.56.
In other QUALCOMM news, CAO Erin L. Polek sold 1,835 shares of the business’s stock in a transaction dated Friday, May 21st. The shares were sold at an average price of $132.00, for a total transaction of $242,220.00. Also, EVP Brian Modoff sold 1,510 shares of the business’s stock in a transaction dated Tuesday, June 15th. The stock was sold at an average price of $136.45, for a total transaction of $206,039.50. The disclosure for this sale can be found here. Insiders sold 4,855 shares of company stock worth $643,533 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.
QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.
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