3,966 Shares in QUALCOMM, Inc. (QCOM) Purchased by Lourd Capital LLC

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Lourd Capital LLC purchased a new position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,966 shares of the wireless technology company’s stock, valued at approximately $286,000.

Several other institutional investors have also recently modified their holdings of the company. Stephens Inc. AR grew its position in QUALCOMM by 13.3% during the second quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock worth $5,741,000 after buying an additional 11,974 shares during the period. Asset Dedication LLC grew its position in QUALCOMM by 11.3% during the second quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock worth $493,000 after buying an additional 894 shares during the period. Pzena Investment Management LLC grew its position in QUALCOMM by 1.5% during the second quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock worth $39,943,000 after buying an additional 10,759 shares during the period. Argent Trust Co grew its position in QUALCOMM by 264.6% during the second quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock worth $2,632,000 after buying an additional 34,036 shares during the period. Finally, Centaurus Financial Inc. grew its position in QUALCOMM by 298.5% during the second quarter. Centaurus Financial Inc. now owns 14,281 shares of the wireless technology company’s stock worth $801,000 after buying an additional 10,697 shares during the period. Institutional investors and hedge funds own 77.39% of the company’s stock.

Shares of NASDAQ QCOM opened at $64.29 on Friday. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $76.50. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.12 and a beta of 1.66. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.30. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict that QUALCOMM, Inc. will post 3.12 EPS for the current fiscal year.

QUALCOMM declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 26th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 34.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

QCOM has been the topic of several recent analyst reports. Barclays initiated coverage on shares of QUALCOMM in a research report on Thursday, September 13th. They set an “overweight” rating and a $95.00 target price on the stock. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Royal Bank of Canada upped their target price on shares of QUALCOMM to $77.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. Nomura upped their target price on shares of QUALCOMM from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Finally, Deutsche Bank upped their target price on shares of QUALCOMM to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Buy” and a consensus price target of $71.12.

In related news, EVP Alexander H. Rogers sold 1,306 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $67.37, for a total transaction of $87,985.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 854 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $72.18, for a total transaction of $61,641.72. Following the transaction, the executive vice president now directly owns 5,197 shares in the company, valued at approximately $375,119.46. The disclosure for this sale can be found here. Insiders have sold 91,613 shares of company stock worth $6,300,408 in the last three months. Insiders own 0.24% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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