SFE Investment Counsel Purchases 2,285 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

SFE Investment Counsel raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,987 shares of the wireless technology company’s stock after purchasing an additional 2,285 shares during the quarter. QUALCOMM accounts for 3.1% of SFE Investment Counsel’s investment portfolio, making the stock its 3rd biggest holding. SFE Investment Counsel’s holdings in QUALCOMM were worth $11,290,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of QCOM. Capital Investment Advisory Services LLC grew its holdings in shares of QUALCOMM by 9.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 4,501 shares of the wireless technology company’s stock valued at $597,000 after acquiring an additional 375 shares in the last quarter. Avidian Wealth Solutions LLC grew its holdings in shares of QUALCOMM by 2.3% during the 1st quarter. Avidian Wealth Solutions LLC now owns 4,251 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 94 shares in the last quarter. Congress Asset Management Co. MA grew its holdings in shares of QUALCOMM by 37.4% during the 1st quarter. Congress Asset Management Co. MA now owns 2,027 shares of the wireless technology company’s stock valued at $269,000 after acquiring an additional 552 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of QUALCOMM by 13.5% during the 1st quarter. Bridges Investment Management Inc. now owns 27,383 shares of the wireless technology company’s stock valued at $3,631,000 after acquiring an additional 3,260 shares in the last quarter. Finally, Lakeview Capital Partners LLC boosted its holdings in QUALCOMM by 50.8% in the first quarter. Lakeview Capital Partners LLC now owns 2,774 shares of the wireless technology company’s stock worth $368,000 after purchasing an additional 934 shares in the last quarter. Institutional investors and hedge funds own 71.77% of the company’s stock.

NASDAQ:QCOM traded down $3.02 during mid-day trading on Wednesday, hitting $138.12. The company’s stock had a trading volume of 398,576 shares, compared to its average volume of 8,847,491. QUALCOMM Incorporated has a fifty-two week low of $108.30 and a fifty-two week high of $167.94. The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $155.80 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 0.94 and a beta of 1.29. The stock has a fifty day moving average of $144.06 and a 200-day moving average of $137.84.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 28th. The wireless technology company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.24. QUALCOMM had a net margin of 28.25% and a return on equity of 102.31%. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.58 billion. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Thursday, September 2nd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, September 1st. QUALCOMM’s dividend payout ratio (DPR) is presently 81.44%.

QCOM has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating and issued a $225.00 price objective (up from $200.00) on shares of QUALCOMM in a report on Thursday, August 12th. Susquehanna Bancshares reiterated a “hold” rating and issued a $157.00 price objective on shares of QUALCOMM in a report on Thursday, July 29th. Susquehanna reiterated a “hold” rating and issued a $157.00 price objective on shares of QUALCOMM in a report on Thursday, July 29th. Cowen upped their price objective on shares of QUALCOMM from $180.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $190.00 price objective on shares of QUALCOMM in a report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Buy” and a consensus target price of $167.81.

QUALCOMM Profile

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in 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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