Mendota Financial Group LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Mendota Financial Group LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 67.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,414 shares of the wireless technology company’s stock after purchasing an additional 969 shares during the period. Mendota Financial Group LLC’s holdings in QUALCOMM were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of QCOM. DHJJ Financial Advisors Ltd. purchased a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in QUALCOMM in the 1st quarter valued at approximately $26,000. Pacifica Partners Inc. increased its stake in QUALCOMM by 150.0% in the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Finally, Legacy Financial Group LLC purchased a new position in QUALCOMM in the 3rd quarter valued at approximately $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM stock opened at $169.30 on Friday. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The stock’s fifty day simple moving average is $158.47 and its 200-day simple moving average is $136.52. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.31 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s payout ratio is currently 46.38%.

Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now owns 4,972 shares in the company, valued at $691,108. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the insider now directly owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,360 shares of company stock worth $5,457,048. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on QCOM shares. Barclays raised their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $119.00 to $132.00 in a research note on Friday, December 8th. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Canaccord Genuity Group raised their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

View Our Latest Stock Analysis on QCOM

QUALCOMM Company Profile

(Free Report)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

See Also

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOMFree Report).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.