J.W. Cole Advisors Inc. Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)


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J.W. Cole Advisors Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,729 shares of the wireless technology company’s stock after buying an additional 192 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in QUALCOMM were worth $1,820,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in QUALCOMM during the fourth quarter worth approximately $2,969,000. GW&K Investment Management LLC lifted its stake in QUALCOMM by 6.4% during the fourth quarter. GW&K Investment Management LLC now owns 176,441 shares of the wireless technology company’s stock worth $26,879,000 after purchasing an additional 10,683 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in QUALCOMM during the fourth quarter worth approximately $225,000. Fosun International Ltd lifted its stake in QUALCOMM by 22.4% during the fourth quarter. Fosun International Ltd now owns 27,300 shares of the wireless technology company’s stock worth $4,054,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Baker Tilly Financial LLC purchased a new stake in QUALCOMM during the fourth quarter worth approximately $2,499,000. Hedge funds and other institutional investors own 74.76% of the company’s stock.

QUALCOMM stock opened at $137.43 on Tuesday. The company has a debt-to-equity ratio of 2.51, a current ratio of 2.14 and a quick ratio of 1.84. QUALCOMM Incorporated has a 1-year low of $74.09 and a 1-year high of $167.94. The company has a market cap of $156.12 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. The stock’s 50 day moving average price is $135.51 and its 200 day moving average price is $142.67.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.49. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.62 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 6.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 3rd will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, June 2nd. This is an increase from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 77.84%.

Several equities research analysts recently weighed in on QCOM shares. Morgan Stanley boosted their target price on QUALCOMM from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 29th. Susquehanna reaffirmed a “neutral” rating and set a $155.00 price target (down previously from $175.00) on shares of QUALCOMM in a research report on Monday, April 26th. KeyCorp lifted their price target on QUALCOMM from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 6th. Rosenblatt Securities lifted their price target on QUALCOMM from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Finally, Raymond James lifted their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 19th. Twelve equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $163.65.

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).

Further Reading: Holder of Record

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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