Endurance Wealth Management Inc. lifted its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 313,694 shares of the wireless technology company’s stock after acquiring an additional 1,759 shares during the period. QUALCOMM accounts for approximately 4.1% of Endurance Wealth Management Inc.’s portfolio, making the stock its biggest holding. Endurance Wealth Management Inc.’s holdings in QUALCOMM were worth $21,221,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of QCOM. Klingenstein Fields & Co. LLC grew its stake in QUALCOMM by 2.0% in the 4th quarter. Klingenstein Fields & Co. LLC now owns 6,267 shares of the wireless technology company’s stock worth $553,000 after acquiring an additional 120 shares during the period. Plancorp LLC boosted its holdings in shares of QUALCOMM by 2.1% during the fourth quarter. Plancorp LLC now owns 6,218 shares of the wireless technology company’s stock worth $549,000 after purchasing an additional 128 shares during the last quarter. Paulson Wealth Management Inc. grew its position in shares of QUALCOMM by 2.3% in the first quarter. Paulson Wealth Management Inc. now owns 5,948 shares of the wireless technology company’s stock valued at $452,000 after purchasing an additional 131 shares during the period. First National Trust Co increased its stake in QUALCOMM by 1.1% in the first quarter. First National Trust Co now owns 13,036 shares of the wireless technology company’s stock valued at $882,000 after purchasing an additional 142 shares during the last quarter. Finally, Washington Trust Bank lifted its position in QUALCOMM by 4.4% during the first quarter. Washington Trust Bank now owns 3,414 shares of the wireless technology company’s stock worth $231,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 76.65% of the company’s stock.
QCOM traded up $0.70 on Friday, reaching $78.70. The company’s stock had a trading volume of 5,471,251 shares, compared to its average volume of 10,017,896. The stock has a market cap of $87.74 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. QUALCOMM, Inc. has a 1 year low of $58.00 and a 1 year high of $96.17. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.57 and a quick ratio of 1.39. The business’s 50 day moving average is $75.19 and its 200 day moving average is $82.06.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.30%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, June 3rd. QUALCOMM’s dividend payout ratio is 87.32%.
In other news, CAO Erin L. Polek sold 1,646 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.12% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on QCOM shares. Canaccord Genuity reiterated a “buy” rating and set a $102.00 price objective on shares of QUALCOMM in a report on Thursday. ValuEngine raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Goldman Sachs Group cut shares of QUALCOMM from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $77.00 to $61.00 in a research note on Friday, April 17th. Morgan Stanley increased their target price on QUALCOMM from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Mizuho lowered their price target on QUALCOMM from $95.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $88.57.
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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