Qualcomm Inc. (QCOM) Shares Bought by Jacobs & Co. CA
Jacobs & Co. CA raised its stake in Qualcomm Inc. (NASDAQ:QCOM) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 91,729 shares of the wireless technology company’s stock after buying an additional 1,572 shares during the period. Jacobs & Co. CA’s holdings in Qualcomm were worth $6,283,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in QCOM. Kelman Lazarov Inc. raised its stake in Qualcomm by 6.1% in the third quarter. Kelman Lazarov Inc. now owns 1,735 shares of the wireless technology company’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. City Holding Co. raised its stake in Qualcomm by 8.6% in the third quarter. City Holding Co. now owns 13,160 shares of the wireless technology company’s stock valued at $901,000 after buying an additional 1,047 shares in the last quarter. Searle & CO. acquired a new stake in Qualcomm during the third quarter valued at approximately $536,000. Oliver Luxxe Assets LLC acquired a new stake in Qualcomm during the third quarter valued at approximately $704,000. Finally, Pure Financial Advisors Inc. raised its stake in Qualcomm by 13.3% in the third quarter. Pure Financial Advisors Inc. now owns 18,151 shares of the wireless technology company’s stock valued at $1,243,000 after buying an additional 2,127 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 1.99% during midday trading on Wednesday, reaching $68.10. The company’s stock had a trading volume of 8,193,060 shares. The stock has a 50-day moving average of $67.23 and a 200 day moving average of $60.96. Qualcomm Inc. has a 12 month low of $42.24 and a 12 month high of $71.62. The company has a market cap of $100.58 billion, a price-to-earnings ratio of 17.87 and a beta of 1.36.
Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The company earned $9.17 billion during the quarter, compared to the consensus estimate of $5.84 billion. Qualcomm had a return on equity of 19.31% and a net margin of 24.22%. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, analysts predict that Qualcomm Inc. will post $4.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.18%. Qualcomm’s payout ratio is currently 55.64%.
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Several equities research analysts recently commented on the stock. Vetr upgraded shares of Qualcomm from a “buy” rating to a “strong-buy” rating and set a $76.60 price objective on the stock in a research report on Monday. Morgan Stanley lowered shares of Qualcomm from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $67.88 to $65.00 in a research report on Thursday, November 10th. They noted that the move was a valuation call. Cowen and Company reiterated an “outperform” rating and issued a $74.00 price objective on shares of Qualcomm in a research report on Monday, November 7th. Canaccord Genuity restated a “buy” rating and issued a $81.00 target price on shares of Qualcomm in a report on Friday, November 4th. Finally, Pacific Crest restated a “buy” rating and issued a $83.00 target price on shares of Qualcomm in a report on Thursday, November 3rd. Seventeen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.05.
In related news, EVP Matthew S. Grob sold 74,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $66.63, for a total value of $4,930,620.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michelle M. Sterling sold 9,810 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $66.53, for a total value of $652,659.30. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Qualcomm Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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