C M Bidwell & Associates Ltd. Invests $733,000 in QUALCOMM, Inc. (QCOM)

C M Bidwell & Associates Ltd. bought a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) in the 3rd quarter, Holdings Channel reports. The fund bought 10,180 shares of the wireless technology company’s stock, valued at approximately $733,000.

Other hedge funds also recently made changes to their positions in the company. Cpwm LLC bought a new stake in QUALCOMM in the 3rd quarter valued at about $2,897,000. InterOcean Capital LLC boosted its holdings in QUALCOMM by 5.2% in the 3rd quarter. InterOcean Capital LLC now owns 294,075 shares of the wireless technology company’s stock valued at $21,182,000 after purchasing an additional 14,598 shares during the period. Redmond Asset Management LLC boosted its holdings in QUALCOMM by 18.9% in the 3rd quarter. Redmond Asset Management LLC now owns 6,300 shares of the wireless technology company’s stock valued at $454,000 after purchasing an additional 1,000 shares during the period. Kepos Capital LP acquired a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $606,000. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of QUALCOMM by 4.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 535,213 shares of the wireless technology company’s stock valued at $38,551,000 after buying an additional 22,155 shares in the last quarter. 89.63% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on QCOM shares. Barclays started coverage on shares of QUALCOMM in a research report on Thursday, September 13th. They issued an “overweight” rating and a $95.00 target price for the company. Deutsche Bank dropped their target price on shares of QUALCOMM to $65.00 and set a “hold” rating for the company in a research report on Thursday, November 8th. Royal Bank of Canada boosted their target price on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a research report on Friday, September 7th. Nomura boosted their target price on shares of QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 4th. Finally, Bank of America dropped their target price on shares of QUALCOMM from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $70.44.

In related news, President Cristiano R. Amon sold 88,625 shares of the company’s stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the completion of the transaction, the president now directly owns 58,045 shares in the company, valued at approximately $3,994,076.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Donald J. Rosenberg sold 6,297 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $55.22, for a total transaction of $347,720.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,629 shares of company stock valued at $6,561,814. 0.24% of the stock is owned by corporate insiders.

QCOM stock opened at $59.14 on Tuesday. The company has a market cap of $70.62 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.44 and a beta of 1.67. QUALCOMM, Inc. has a 1 year low of $48.56 and a 1 year high of $76.50. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 16.56.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.20. The business had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.54 billion. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. As a group, research analysts expect that QUALCOMM, Inc. will post 3.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s dividend payout ratio is 77.74%.

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QUALCOMM Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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