Stonebridge Capital Advisors LLC Acquires 2,750 Shares of QUALCOMM, Inc. (QCOM)

Stonebridge Capital Advisors LLC raised its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,502 shares of the wireless technology company’s stock after acquiring an additional 2,750 shares during the period. Stonebridge Capital Advisors LLC’s holdings in QUALCOMM were worth $3,344,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in QCOM. Westwood Holdings Group Inc. purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $114,000. Krilogy Financial LLC grew its stake in shares of QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $141,000. Jacobi Capital Management LLC grew its stake in shares of QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after buying an additional 200 shares during the period. Finally, Penserra Capital Management LLC grew its stake in shares of QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after buying an additional 842 shares during the period. Institutional investors own 76.16% of the company’s stock.

QUALCOMM, Inc. (NASDAQ:QCOM) opened at $61.73 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28. The company has a market cap of $91,000.00, a P/E ratio of -21.81, a price-to-earnings-growth ratio of 1.87 and a beta of 1.38.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the company posted $1.19 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. equities research analysts forecast that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.69%. QUALCOMM’s dividend payout ratio is presently -80.57%.

In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total value of $59,110.08. Following the completion of the transaction, the executive vice president now owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders sold a total of 53,346 shares of company stock valued at $3,499,504 in the last three months. 0.24% of the stock is currently owned by corporate insiders.

QCOM has been the subject of several analyst reports. BMO Capital Markets increased their price target on shares of QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. UBS Group raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Royal Bank of Canada increased their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Canaccord Genuity increased their price target on shares of QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Finally, Mizuho reissued a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $68.25.

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About QUALCOMM

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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