Montrusco Bolton Investments Inc. Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Montrusco Bolton Investments Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 59.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,999 shares of the wireless technology company’s stock after selling 61,290 shares during the period. Montrusco Bolton Investments Inc.’s holdings in QUALCOMM were worth $4,632,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in QCOM. CoreFirst Bank & Trust raised its position in QUALCOMM by 103.1% during the second quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. IAG Wealth Partners LLC increased its position in shares of QUALCOMM by 62.3% in the third quarter. IAG Wealth Partners LLC now owns 224 shares of the wireless technology company’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. Schubert & Co grew its position in shares of QUALCOMM by 136.0% in the second quarter. Schubert & Co now owns 203 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 117 shares during the period. AdvisorShares Investments LLC purchased a new position in shares of QUALCOMM in the second quarter valued at approximately $27,000. Finally, Syverson Strege & Co grew its holdings in shares of QUALCOMM by 124.3% during the second quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. 70.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Erin L. Polek sold 2,894 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $121.10, for a total value of $350,463.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other QUALCOMM news, CAO Erin L. Polek sold 2,894 shares of QUALCOMM stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $121.10, for a total transaction of $350,463.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 26,427 shares of the stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total value of $3,232,814.91. Following the completion of the sale, the insider now owns 51,179 shares of the company’s stock, valued at approximately $6,260,727.07. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on QCOM. Sanford C. Bernstein lowered their target price on shares of QUALCOMM to $165.00 in a research note on Friday, November 4th. Evercore ISI set a $120.00 target price on QUALCOMM in a research note on Wednesday, November 23rd. Credit Suisse Group assumed coverage on shares of QUALCOMM in a research report on Tuesday, November 15th. They issued an “outperform” rating and a $150.00 price objective on the stock. Raymond James dropped their price target on QUALCOMM from $190.00 to $150.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 3rd. Finally, Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $150.00 in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.46.

QUALCOMM Trading Down 1.4 %

QCOM traded down $1.83 during trading on Wednesday, hitting $128.87. 1,869,328 shares of the company’s stock were exchanged, compared to its average volume of 8,320,977. QUALCOMM Incorporated has a 1 year low of $101.93 and a 1 year high of $192.10. The stock has a 50 day moving average price of $118.39 and a 200 day moving average price of $126.00. The firm has a market cap of $143.97 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.23. The company has a current ratio of 1.75, a quick ratio of 1.21 and a debt-to-equity ratio of 0.75.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $2.74 EPS for the quarter, hitting analysts’ consensus estimates of $2.74. The firm had revenue of $11.40 billion for the quarter, compared to analyst estimates of $11.38 billion. QUALCOMM had a net margin of 29.27% and a return on equity of 86.71%. As a group, analysts expect that QUALCOMM Incorporated will post 8.81 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 2nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 dividend on an annualized basis and a yield of 2.33%. QUALCOMM’s dividend payout ratio is currently 26.36%.

QUALCOMM Profile

(Get Rating)

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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