Gradient Capital Advisors LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Gradient Capital Advisors LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 8.3% during the 3rd quarter, Holdings Channel reports. The fund owned 10,076 shares of the wireless technology company’s stock after acquiring an additional 773 shares during the period. Gradient Capital Advisors LLC’s holdings in QUALCOMM were worth $1,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cowa LLC purchased a new position in QUALCOMM during the third quarter worth about $70,000. Chevy Chase Trust Holdings LLC lifted its position in QUALCOMM by 1.4% during the third quarter. Chevy Chase Trust Holdings LLC now owns 691,121 shares of the wireless technology company’s stock worth $78,082,000 after buying an additional 9,246 shares during the period. V Wealth Advisors LLC lifted its position in QUALCOMM by 9.6% during the third quarter. V Wealth Advisors LLC now owns 7,284 shares of the wireless technology company’s stock worth $823,000 after buying an additional 637 shares during the period. Schechter Investment Advisors LLC lifted its position in QUALCOMM by 6.1% during the third quarter. Schechter Investment Advisors LLC now owns 12,332 shares of the wireless technology company’s stock worth $1,393,000 after buying an additional 713 shares during the period. Finally, XML Financial LLC lifted its position in QUALCOMM by 1,462.8% during the third quarter. XML Financial LLC now owns 97,174 shares of the wireless technology company’s stock worth $10,979,000 after buying an additional 90,956 shares during the period. 70.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Rosenblatt Securities dropped their price target on QUALCOMM from $220.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Wells Fargo & Company lowered QUALCOMM from an “equal weight” rating to an “underweight” rating and set a $105.00 price target for the company. in a research note on Monday, December 12th. Barclays upgraded QUALCOMM from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $120.00 to $150.00 in a research note on Monday. Canaccord Genuity Group dropped their price target on QUALCOMM from $225.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Finally, Morgan Stanley dropped their price target on QUALCOMM from $170.00 to $147.00 and set an “overweight” rating for the company in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 26,427 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the transaction, the insider now owns 51,179 shares of the company’s stock, valued at approximately $6,260,727.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Erin L. Polek sold 2,894 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $121.10, for a total value of $350,463.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 26,427 shares of the firm’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $122.33, for a total value of $3,232,814.91. Following the completion of the sale, the insider now directly owns 51,179 shares in the company, valued at approximately $6,260,727.07. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.

QUALCOMM Stock Down 1.0 %

NASDAQ QCOM traded down $1.32 during mid-day trading on Wednesday, reaching $129.38. 408,820 shares of the company’s stock traded hands, compared to its average volume of 8,229,695. QUALCOMM Incorporated has a 1-year low of $101.93 and a 1-year high of $192.10. The company has a fifty day simple moving average of $118.39 and a 200-day simple moving average of $126.00. The company has a current ratio of 1.75, a quick ratio of 1.21 and a debt-to-equity ratio of 0.75. The company has a market cap of $144.54 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.95 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $2.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.74. QUALCOMM had a return on equity of 86.71% and a net margin of 29.27%. The firm had revenue of $11.40 billion during the quarter, compared to analyst estimates of $11.38 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 8.81 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, March 1st. QUALCOMM’s dividend payout ratio is presently 26.36%.

QUALCOMM Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOMGet Rating).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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