QUALCOMM, Inc. (QCOM) Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division increased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 503.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,610 shares of the wireless technology company’s stock after acquiring an additional 77,275 shares during the period. Moody National Bank Trust Division’s holdings in QUALCOMM were worth $6,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC lifted its position in QUALCOMM by 170.9% during the third quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock valued at $134,000 after buying an additional 1,167 shares in the last quarter. Kiley Juergens Wealth Management LLC lifted its position in QUALCOMM by 1,760.0% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock valued at $133,000 after buying an additional 1,760 shares in the last quarter. Squar Milner Financial Services LLC acquired a new position in QUALCOMM during the second quarter valued at approximately $106,000. Enterprise Financial Services Corp lifted its position in QUALCOMM by 151.8% during the third quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock valued at $143,000 after buying an additional 1,201 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in QUALCOMM during the third quarter valued at approximately $152,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

QCOM has been the topic of a number of recent research reports. Deutsche Bank lifted their price target on shares of QUALCOMM to $60.00 and gave the company a “hold” rating in a research report on Monday, July 23rd. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Cowen lifted their price target on shares of QUALCOMM from $58.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, July 26th. Stifel Nicolaus lifted their price target on shares of QUALCOMM from $54.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, BMO Capital Markets lifted their price target on shares of QUALCOMM to $64.00 and gave the company a “market perform” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $71.87.

In other news, EVP Alexander H. Rogers sold 1,306 shares of QUALCOMM stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $67.37, for a total transaction of $87,985.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Cristiano R. Amon sold 88,625 shares of QUALCOMM stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the sale, the president now owns 58,045 shares in the company, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. Insiders have sold 91,638 shares of company stock worth $6,302,079 in the last quarter. Insiders own 0.24% of the company’s stock.

QCOM opened at $63.33 on Monday. The company has a market cap of $93.04 billion, a PE ratio of 16.75, a PEG ratio of 1.97 and a beta of 1.69. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.62 and a current ratio of 2.73.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.92%. QUALCOMM’s dividend payout ratio is currently 65.61%.

QUALCOMM announced that its board has initiated a share repurchase plan on Thursday, July 26th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 34.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

Further Reading: Bull Market

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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