Buckingham Asset Management LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,789 shares of the wireless technology company’s stock after buying an additional 1,033 shares during the period. Buckingham Asset Management LLC’s holdings in QUALCOMM were worth $733,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in QCOM. Keystone Financial Planning Inc. increased its stake in QUALCOMM by 8.0% in the first quarter. Keystone Financial Planning Inc. now owns 76,652 shares of the wireless technology company’s stock valued at $4,395,000 after buying an additional 5,672 shares during the period. Telos Capital Management Inc. increased its stake in QUALCOMM by 9.8% in the first quarter. Telos Capital Management Inc. now owns 71,442 shares of the wireless technology company’s stock valued at $4,096,000 after buying an additional 6,405 shares during the period. Meristem LLP increased its stake in QUALCOMM by 2.4% in the first quarter. Meristem LLP now owns 9,860 shares of the wireless technology company’s stock valued at $565,000 after buying an additional 232 shares during the period. Lipe & Dalton purchased a new stake in QUALCOMM during the first quarter valued at about $2,388,000. Finally, Smith Moore & CO. increased its stake in QUALCOMM by 12.6% in the first quarter. Smith Moore & CO. now owns 9,485 shares of the wireless technology company’s stock valued at $544,000 after buying an additional 1,058 shares during the period. 76.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of QUALCOMM Incorporated (QCOM) opened at 51.92 on Friday. The company has a market capitalization of $76.64 billion, a P/E ratio of 19.89 and a beta of 1.29. The company has a 50 day moving average of $54.04 and a 200-day moving average of $55.54. QUALCOMM Incorporated has a 12-month low of $51.05 and a 12-month high of $71.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.39%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.
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Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $60.00 target price on shares of QUALCOMM in a research report on Saturday, April 22nd. UBS AG reissued a “neutral” rating and issued a $58.00 target price on shares of QUALCOMM in a research report on Tuesday, May 2nd. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price for the company. in a research report on Tuesday, May 2nd. Sanford C. Bernstein reissued a “market perform” rating on shares of QUALCOMM in a research report on Monday, May 15th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.96.
In related news, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold 52,101 shares of company stock worth $2,955,612 over the last quarter. 0.17% of the stock is owned by corporate insiders.
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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