Tradition Capital Management LLC Buys 14,475 Shares of QUALCOMM, Inc. (QCOM)

Tradition Capital Management LLC lifted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 13.8% in the third quarter, HoldingsChannel.com reports. The firm owned 119,021 shares of the wireless technology company’s stock after acquiring an additional 14,475 shares during the quarter. QUALCOMM makes up about 2.0% of Tradition Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Tradition Capital Management LLC owned about 80.74% of QUALCOMM worth $6,170,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ronald Blue & Co. LLC raised its stake in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares in the last quarter. Hollencrest Securities LLC raised its stake in QUALCOMM by 0.9% in the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares in the last quarter. Farmers Trust Co. raised its stake in QUALCOMM by 0.9% in the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after buying an additional 48 shares in the last quarter. FCA Corp TX raised its stake in QUALCOMM by 1.0% in the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after buying an additional 49 shares in the last quarter. Finally, Meridian Investment Counsel Inc. raised its stake in QUALCOMM by 0.3% in the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 76.53% of the company’s stock.

In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $1,868,744 in the last ninety days. 0.17% of the stock is owned by corporate insiders.

QCOM has been the topic of a number of research analyst reports. Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 target price on the stock in a research report on Tuesday, January 2nd. Stifel Nicolaus cut QUALCOMM from a “buy” rating to a “hold” rating and lifted their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Finally, ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.06.

QUALCOMM, Inc. (QCOM) opened at $66.47 on Friday. The stock has a market capitalization of $98,640.00, a PE ratio of 40.28, a P/E/G ratio of 1.87 and a beta of 1.39. QUALCOMM, Inc. has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.

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

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

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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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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