Continental Investors Services Inc. Takes $791,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Continental Investors Services Inc. bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,760 shares of the wireless technology company’s stock, valued at approximately $791,000.

Several other institutional investors have also modified their holdings of QCOM. CoreFirst Bank & Trust increased its holdings in QUALCOMM by 103.1% during the 2nd quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. IAG Wealth Partners LLC increased its stake 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 worth $25,000 after buying an additional 86 shares during the last quarter. Syverson Strege & Co raised its holdings in QUALCOMM by 124.3% in the second quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Old North State Trust LLC bought a new position in QUALCOMM during the 3rd quarter valued at $31,000. Finally, HWG Holdings LP acquired a new position in QUALCOMM during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 70.87% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 27,626 shares of the business’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $131.48, for a total value of $3,632,266.48. Following the sale, the insider now directly owns 23,637 shares in the company, valued at $3,107,792.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, Director Jeffrey William Henderson sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total value of $310,125.00. Following the transaction, the director now owns 4,605 shares of the company’s stock, valued at $571,250.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 27,626 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the sale, the insider now directly owns 23,637 shares of the company’s stock, valued at $3,107,792.76. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Raymond James began coverage on shares of QUALCOMM in a research report on Wednesday, March 1st. They set a “market perform” rating on the stock. Citigroup lifted their target price on QUALCOMM from $105.00 to $132.00 and gave the stock a “neutral” rating in a research report on Sunday, February 5th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $185.00 to $160.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 20th. Morgan Stanley raised their price objective on QUALCOMM from $126.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Finally, Susquehanna upgraded shares of QUALCOMM from a “neutral” rating to a “positive” rating and boosted their target price for the company from $130.00 to $140.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.48.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $120.73 on Friday. The firm’s 50-day simple moving average is $125.43 and its 200 day simple moving average is $121.15. The stock has a market cap of $134.61 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.91 and a beta of 1.28. The company has a quick ratio of 1.41, a current ratio of 2.09 and a debt-to-equity ratio of 0.82. QUALCOMM Incorporated has a fifty-two week low of $101.93 and a fifty-two week high of $161.30.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.02. QUALCOMM had a net margin of 27.40% and a return on equity of 69.93%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm earned $2.96 EPS. QUALCOMM’s revenue was down 11.6% on a year-over-year basis. Equities analysts expect that QUALCOMM Incorporated will post 8.21 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 2nd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 1st. QUALCOMM’s dividend payout ratio (DPR) is presently 28.90%.

About QUALCOMM

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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.