Stonebridge Capital Advisors LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Stonebridge Capital Advisors LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,393 shares of the wireless technology company’s stock after acquiring an additional 2,197 shares during the quarter. QUALCOMM accounts for 1.7% of Stonebridge Capital Advisors LLC’s holdings, making the stock its 11th largest position. Stonebridge Capital Advisors LLC’s holdings in QUALCOMM were worth $14,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of QCOM. Fairfield Bush & CO. increased its position in shares of QUALCOMM by 1.3% in the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after buying an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of QUALCOMM by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after buying an additional 245,335 shares in the last quarter. Merit Financial Group LLC increased its position in shares of QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after buying an additional 555 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after buying an additional 8,472 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of QUALCOMM by 30.4% in the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after buying an additional 79,827 shares in the last quarter. 71.10% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.7 %

Shares of QUALCOMM stock traded up $0.86 during trading hours on Friday, hitting $115.39. The company’s stock had a trading volume of 5,310,734 shares, compared to its average volume of 8,019,257. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.42. The stock has a market cap of $128.77 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.09 and a beta of 1.22. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $139.94. The firm has a fifty day moving average of $118.30 and a 200-day moving average of $118.05.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.51 billion. QUALCOMM had a return on equity of 45.94% and a net margin of 22.33%. Research analysts forecast that QUALCOMM Incorporated will post 6.41 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 31st will be issued a $0.80 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 2.77%. QUALCOMM’s dividend payout ratio is presently 41.88%.

Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.16, for a total value of $114,160.00. Following the sale, the insider now owns 6,745 shares in the company, valued at approximately $770,009.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QCOM. Susquehanna lowered their price target on QUALCOMM from $145.00 to $140.00 and set a “positive” rating on the stock in a research note on Thursday, August 3rd. Morgan Stanley lifted their price target on QUALCOMM from $125.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft lowered QUALCOMM from a “buy” rating to a “hold” rating and lowered their price target for the stock from $130.00 to $121.00 in a research note on Thursday, August 3rd. UBS Group lifted their price target on QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, July 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $145.00 price target on shares of QUALCOMM in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $143.26.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.