Highstreet Asset Management Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,712 shares of the wireless technology company’s stock, valued at approximately $481,000.
Other large investors also recently bought and sold shares of the company. Jacobi Capital Management LLC raised its holdings in shares of QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the period. Alpha Windward LLC raised its holdings in shares of QUALCOMM by 6.1% in the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares during the period. Welch Group LLC raised its holdings in shares of QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after purchasing an additional 69 shares during the period. American National Bank raised its holdings in shares of QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock worth $201,000 after purchasing an additional 812 shares during the period. Finally, Ronald Blue & Co. LLC grew its stake in QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares in the last quarter. 76.99% of the stock is currently owned by institutional investors.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at 53.80 on Friday. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62. The stock has a market cap of $79.41 billion, a PE 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 declared 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. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.24%. QUALCOMM’s dividend payout ratio is currently 87.36%.
In other news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 5,481 shares of company stock valued at $284,132. Company insiders own 0.17% of the company’s stock.
A number of research firms recently weighed in on QCOM. BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and issued a $56.00 price objective on shares of QUALCOMM in a research note on Friday, June 30th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research note on Wednesday, July 5th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Hold” and a consensus price target 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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