Tradition Capital Management LLC Acquires 14,475 Shares of QUALCOMM, Inc. (QCOM)
Tradition Capital Management LLC raised its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 13.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,021 shares of the wireless technology company’s stock after purchasing an additional 14,475 shares during the quarter. QUALCOMM accounts for approximately 2.0% of Tradition Capital Management LLC’s portfolio, making the stock its 12th largest position. Tradition Capital Management LLC owned about 8,073.76% of QUALCOMM worth $6,170,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. United Asset Strategies Inc. purchased a new position in shares of QUALCOMM in the 2nd quarter worth about $5,249,000. Conning Inc. boosted its holdings in shares of QUALCOMM by 16.4% in the 3rd quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock worth $37,293,000 after buying an additional 101,483 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of QUALCOMM by 10.8% in the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock worth $6,377,000 after buying an additional 11,232 shares during the last quarter. Private Asset Management Inc. boosted its holdings in shares of QUALCOMM by 0.5% in the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after buying an additional 4,028 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of QUALCOMM by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock worth $257,798,000 after buying an additional 160,226 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at $67.32 on Tuesday. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The firm has a market capitalization of $99,240.00, a PE ratio of 40.80, a PEG ratio of 1.94 and a beta of 1.39. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently 138.18%.
A number of brokerages recently weighed in on QCOM. UBS Group cut their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Wells Fargo & Co downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a report on Monday, November 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Royal Bank of Canada raised shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $70.00 in a report on Wednesday, November 8th. Finally, Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, November 27th. Eighteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. QUALCOMM has an average rating of “Hold” and an average target price of $67.37.
In related news, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the transaction, the executive vice president now directly owns 10,403 shares in the company, valued at $709,484.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,346 shares of company stock worth $4,708,304. Company insiders own 0.24% of the company’s stock.
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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