Abbot Financial Management Inc. Buys Shares of 15,080 QUALCOMM Incorporated (QCOM)

Abbot Financial Management Inc. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,080 shares of the wireless technology company’s stock, valued at approximately $833,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Jacobi Capital Management LLC lifted its holdings in QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after purchasing an additional 250 shares in the last quarter. Alpha Windward LLC lifted its holdings in QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after purchasing an additional 153 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in 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 purchasing an additional 842 shares in the last quarter. FNY Partners Fund LP lifted its holdings in QUALCOMM by 102.0% in the 2nd quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock valued at $171,000 after purchasing an additional 1,565 shares in the last quarter. Finally, American National Bank lifted its holdings in QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after purchasing an additional 812 shares in the last quarter. 76.66% of the stock is currently owned by institutional investors.

QUALCOMM Incorporated (NASDAQ QCOM) traded up $0.29 on Wednesday, reaching $64.98. 6,932,800 shares of the company were exchanged, compared to its average volume of 11,403,939. The firm has a market cap of $95,172.09, a P/E ratio of 17.08, a PEG ratio of 1.81 and a beta of 1.39. QUALCOMM Incorporated has a 12-month low of $48.92 and a 12-month high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. analysts expect that QUALCOMM Incorporated will post 3.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.

In related news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the sale, the executive vice president now owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the 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. In the last three months, insiders have sold 29,427 shares of company stock valued at $1,827,995. Corporate insiders own 0.24% of the company’s stock.

QCOM has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. UBS upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Royal Bank Of Canada upped their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. Finally, Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Hold” and an average price target of $66.02.

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QUALCOMM Profile

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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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