Allegis Investment Advisors LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 24.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 33,283 shares of the wireless technology company’s stock after buying an additional 6,600 shares during the period. Allegis Investment Advisors LLC’s holdings in QUALCOMM were worth $1,908,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Simonbaker & Partners LLC boosted its stake in shares of QUALCOMM by 118.8% in the fourth quarter. Simonbaker & Partners LLC now owns 9,578 shares of the wireless technology company’s stock valued at $512,000 after buying an additional 5,200 shares in the last quarter. ARK Investment Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $507,000. Renaissance Technologies LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $17,588,000. Greenwood Capital Associates LLC boosted its stake in shares of QUALCOMM by 63.0% in the fourth quarter. Greenwood Capital Associates LLC now owns 73,058 shares of the wireless technology company’s stock valued at $4,763,000 after buying an additional 28,227 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in shares of QUALCOMM by 6.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,686 shares of the wireless technology company’s stock valued at $436,000 after buying an additional 423 shares in the last quarter. Institutional investors own 77.25% of the company’s stock.
Shares of QUALCOMM Incorporated (QCOM) opened at 56.78 on Thursday. The company has a 50-day moving average price of $56.65 and a 200-day moving average price of $56.84. The stock has a market cap of $83.89 billion, a price-to-earnings ratio of 18.92 and a beta of 1.30. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. QUALCOMM also saw unusually large options trading on Tuesday. Stock traders bought 13,443 call options on the stock. This is an increase of approximately 124% compared to the average volume of 6,007 call options.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 21.32% and a net margin of 19.25%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, analysts expect that QUALCOMM Incorporated will post $4.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 76.00%.
ILLEGAL ACTIVITY WARNING: “Allegis Investment Advisors LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/07/20/allegis-investment-advisors-llc-boosts-stake-in-qualcomm-incorporated-nasdaqqcom.html.
Several equities research analysts recently weighed in on QCOM shares. Macquarie started coverage on shares of QUALCOMM in a research report on Thursday, March 30th. They issued a “neutral” rating and a $60.00 price target on the stock. Stifel Nicolaus reduced their price target on shares of QUALCOMM from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, March 30th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $60.00 price objective on shares of QUALCOMM in a research note on Monday, April 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $78.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 4th. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $64.65.
In other news, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James H. Thompson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $52.53, for a total value of $1,313,250.00. Following the completion of the transaction, the executive vice president now directly owns 76,246 shares in the company, valued at approximately $4,005,202.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,473 shares of company stock worth $4,840,167. 0.17% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for QUALCOMM Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
