QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Canandaigua National Corp


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Canandaigua National Corp trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 17,785 shares of the wireless technology company’s stock after selling 6,816 shares during the period. Canandaigua National Corp’s holdings in QUALCOMM were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Xcel Wealth Management LLC grew its position in shares of QUALCOMM by 1.2% in the 4th quarter. Xcel Wealth Management LLC now owns 5,934 shares of the wireless technology company’s stock worth $903,000 after buying an additional 70 shares during the last quarter. PDS Planning Inc grew its position in shares of QUALCOMM by 3.9% in the 4th quarter. PDS Planning Inc now owns 1,867 shares of the wireless technology company’s stock worth $284,000 after buying an additional 70 shares during the last quarter. Bedel Financial Consulting Inc. boosted its position in shares of QUALCOMM by 19.5% during the fourth quarter. Bedel Financial Consulting Inc. now owns 459 shares of the wireless technology company’s stock valued at $70,000 after purchasing an additional 75 shares in the last quarter. Intrust Bank NA boosted its position in shares of QUALCOMM by 0.6% during the fourth quarter. Intrust Bank NA now owns 12,303 shares of the wireless technology company’s stock valued at $1,874,000 after purchasing an additional 76 shares in the last quarter. Finally, Liberty Wealth Management LLC boosted its position in shares of QUALCOMM by 12.4% during the fourth quarter. Liberty Wealth Management LLC now owns 699 shares of the wireless technology company’s stock valued at $112,000 after purchasing an additional 77 shares in the last quarter. 74.76% of the stock is currently owned by hedge funds and other institutional investors.

QCOM traded down $0.08 during trading on Thursday, reaching $139.35. 204,729 shares of the stock were exchanged, compared to its average volume of 10,771,538. The stock has a market cap of $158.30 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. QUALCOMM Incorporated has a twelve month low of $70.00 and a twelve month high of $167.94. The stock’s 50 day moving average price is $134.50 and its two-hundred day moving average price is $140.16. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.84 and a current ratio of 2.14.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.07. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 62.2% on a year-over-year basis. Equities research analysts predict that QUALCOMM Incorporated will post 6.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 4th were given a dividend of $0.65 per share. The ex-dividend date was Wednesday, March 3rd. This represents a $2.60 annualized dividend and a yield of 1.87%. QUALCOMM’s dividend payout ratio is 77.84%.

A number of equities analysts have recently weighed in on QCOM shares. Susquehanna Bancshares upped their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a “positive” rating in a research note on Thursday, February 4th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 10th. Rosenblatt Securities increased their price target on QUALCOMM from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Royal Bank of Canada increased their price objective on QUALCOMM from $126.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 4th. Finally, Morgan Stanley dropped their target price on QUALCOMM from $171.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, February 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $160.88.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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