IPG Investment Advisors LLC Acquires 43,505 Shares of QUALCOMM, Inc. (QCOM)

IPG Investment Advisors LLC grew its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 43.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 144,470 shares of the wireless technology company’s stock after purchasing an additional 43,505 shares during the period. QUALCOMM makes up approximately 2.6% of IPG Investment Advisors LLC’s holdings, making the stock its 11th largest position. IPG Investment Advisors LLC owned approximately 9,800.09% of QUALCOMM worth $7,489,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. WINTON GROUP Ltd raised its holdings in QUALCOMM by 15.9% in the 1st quarter. WINTON GROUP Ltd now owns 229,826 shares of the wireless technology company’s stock worth $15,743,000 after acquiring an additional 31,552 shares during the last quarter. Good Life Advisors LLC purchased a new position in QUALCOMM in the 1st quarter worth approximately $225,000. Stockman Wealth Management Inc. raised its holdings in QUALCOMM by 13.4% in the 1st quarter. Stockman Wealth Management Inc. now owns 31,590 shares of the wireless technology company’s stock worth $1,811,000 after acquiring an additional 3,726 shares during the last quarter. Accident Compensation Corp raised its holdings in QUALCOMM by 28.3% in the 1st quarter. Accident Compensation Corp now owns 74,861 shares of the wireless technology company’s stock worth $4,293,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Sterneck Capital Management LLC raised its holdings in QUALCOMM by 16.5% in the 1st quarter. Sterneck Capital Management LLC now owns 54,334 shares of the wireless technology company’s stock worth $3,115,000 after acquiring an additional 7,714 shares during the last quarter. Hedge funds and other institutional investors own 76.53% of the company’s stock.

QUALCOMM, Inc. (QCOM) opened at $66.47 on Friday. The firm has a market cap of $98,640.00, a price-to-earnings ratio of 40.28, a P/E/G ratio of 1.87 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 EPS. analysts expect that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.43%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s payout ratio is currently 138.18%.

A number of equities analysts recently weighed in on QCOM shares. BMO Capital Markets boosted their price objective on shares of QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, November 2nd. UBS Group raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 8th. Royal Bank of Canada lifted their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Canaccord Genuity lifted their target price on shares of QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.06.

In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the sale, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,989 shares of company stock worth $1,868,744. Corporate insiders own 0.17% of the company’s stock.

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QUALCOMM 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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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