Logan Capital Management Inc. Purchases 103 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Logan Capital Management Inc. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,966 shares of the wireless technology company’s stock after acquiring an additional 103 shares during the quarter. Logan Capital Management Inc.’s holdings in QUALCOMM were worth $912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new stake in QUALCOMM in the first quarter worth $28,000. Rise Advisors LLC acquired a new stake in QUALCOMM in the fourth quarter worth $34,000. Crewe Advisors LLC increased its position in shares of QUALCOMM by 444.4% during the first quarter. Crewe Advisors LLC now owns 245 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Core Wealth Advisors Inc. bought a new stake in shares of QUALCOMM during the fourth quarter worth $46,000. Finally, HWG Holdings LP bought a new stake in shares of QUALCOMM during the fourth quarter worth $47,000. Institutional investors own 71.55% of the company’s stock.

QUALCOMM Trading Up 2.5 %

Shares of QCOM stock opened at $132.05 on Monday. The stock’s fifty day moving average price is $141.57 and its two-hundred day moving average price is $141.49. The company has a market cap of $148.29 billion, a PE ratio of 11.70, a P/E/G ratio of 0.76 and a beta of 1.23. QUALCOMM Incorporated has a fifty-two week low of $118.22 and a fifty-two week high of $193.58. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.61.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.44. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. The firm had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the business posted $1.66 EPS. The company’s revenue was up 36.7% compared to the same quarter last year. Equities analysts predict that QUALCOMM Incorporated will post 10.95 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 1st will be issued a $0.75 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.27%. QUALCOMM’s payout ratio is 26.57%.

Analyst Ratings Changes

QCOM has been the subject of several research reports. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 28th. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Mizuho increased their target price on shares of QUALCOMM from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of QUALCOMM from $190.00 to $170.00 in a report on Wednesday, July 20th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.04.

About QUALCOMM

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QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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