Beacon Investment Advisory Services Inc. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 72.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,214 shares of the wireless technology company’s stock after purchasing an additional 2,609 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in QUALCOMM were worth $343,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its position in QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after acquiring an additional 250 shares in the last quarter. Alpha Windward LLC grew its position in QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after acquiring an additional 153 shares in the last quarter. Welch Group LLC grew its position in QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after acquiring an additional 69 shares in the last quarter. American National Bank grew its position in QUALCOMM by 28.7% in the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 812 shares in the last quarter. Finally, Ronald Blue & Co. LLC grew its position in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,481 shares of company stock worth $284,132 over the last ninety days. Insiders own 0.17% of the company’s stock.
QUALCOMM Incorporated (NASDAQ QCOM) opened at 53.80 on Friday. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62. The company has a market capitalization of $79.41 billion, a P/E ratio of 20.61 and a beta of 1.28. The firm has a 50-day moving average of $52.09 and a 200 day moving average of $54.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.
Several brokerages recently issued reports on QCOM. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. Sanford C. Bernstein reissued a “market perform” rating and issued a $60.00 price target on shares of QUALCOMM in a research note on Friday, June 30th. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price target on shares of QUALCOMM in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $65.00 price objective on shares of QUALCOMM in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. QUALCOMM has an average rating of “Hold” and an average target price of $63.80.
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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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