SeaCrest Wealth Management LLC acquired a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,277 shares of the wireless technology company’s stock, valued at approximately $1,810,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Jacobi Capital Management LLC boosted its stake in QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after buying an additional 200 shares during the last quarter. CI Global Investments Inc. acquired a new stake in QUALCOMM in the 2nd quarter worth about $19,125,000. Jackson Wealth Management LLC boosted its stake in QUALCOMM by 12.7% in the 2nd quarter. Jackson Wealth Management LLC now owns 41,880 shares of the wireless technology company’s stock worth $2,237,000 after buying an additional 4,710 shares during the last quarter. Financial Counselors Inc. boosted its stake in QUALCOMM by 0.8% in the 2nd quarter. Financial Counselors Inc. now owns 123,037 shares of the wireless technology company’s stock worth $6,794,000 after buying an additional 1,011 shares during the last quarter. Finally, Noesis Capital Mangement Corp boosted its stake in QUALCOMM by 2.2% in the 2nd quarter. Noesis Capital Mangement Corp now owns 105,586 shares of the wireless technology company’s stock worth $5,830,000 after buying an additional 2,321 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. KeyCorp raised their price target on QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity raised their price target on QUALCOMM from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Vetr lowered QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 price target on the stock. in a research note on Thursday, February 1st. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $68.25.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.07. The business had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. sell-side analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 3.62%. QUALCOMM’s payout ratio is currently -93.06%.
In related news, EVP Alexander H. Rogers sold 919 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total transaction of $59,110.08. Following the sale, the executive vice president now directly owns 11,116 shares in the company, valued at approximately $714,981.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the sale, the executive vice president now owns 43,000 shares in the company, valued at $2,810,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,812 shares of company stock worth $2,996,776. Company insiders own 0.17% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first published by Ticker Report and is owned by of Ticker Report. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/3257109/seacrest-wealth-management-llc-acquires-new-position-in-qualcomm-inc-qcom.html.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (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.