VisionPoint Advisory Group LLC Acquires New Stake in QUALCOMM, Inc. (NASDAQ:QCOM)

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VisionPoint Advisory Group LLC acquired a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the first quarter, HoldingsChannel reports. The fund acquired 3,793 shares of the wireless technology company’s stock, valued at approximately $216,000.

A number of other institutional investors also recently modified their holdings of the stock. Deprince Race & Zollo Inc. increased its stake in shares of QUALCOMM by 4.4% in the fourth quarter. Deprince Race & Zollo Inc. now owns 487,797 shares of the wireless technology company’s stock worth $27,761,000 after purchasing an additional 20,448 shares in the last quarter. Financial Counselors Inc. increased its stake in shares of QUALCOMM by 0.5% in the fourth quarter. Financial Counselors Inc. now owns 141,059 shares of the wireless technology company’s stock worth $8,028,000 after purchasing an additional 634 shares in the last quarter. United Income Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth $259,000. Tradition Capital Management LLC increased its stake in shares of QUALCOMM by 78.5% in the fourth quarter. Tradition Capital Management LLC now owns 83,991 shares of the wireless technology company’s stock worth $4,779,000 after purchasing an additional 36,940 shares in the last quarter. Finally, ETF Managers Group LLC increased its stake in shares of QUALCOMM by 1,222.9% in the fourth quarter. ETF Managers Group LLC now owns 26,894 shares of the wireless technology company’s stock worth $1,531,000 after purchasing an additional 24,861 shares in the last quarter. Institutional investors own 76.38% of the company’s stock.

A number of brokerages have recently issued reports on QCOM. Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, February 13th. Barclays increased their price objective on shares of QUALCOMM from $70.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. began coverage on shares of QUALCOMM in a research note on Wednesday, March 27th. They issued a “neutral” rating and a $54.00 price objective for the company. Raymond James increased their price objective on shares of QUALCOMM from $65.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $89.00 price objective (up from $75.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and an average target price of $79.68.

QCOM stock traded down $1.46 during trading on Wednesday, hitting $69.78. 411,456 shares of the company’s stock traded hands, compared to its average volume of 18,790,480. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98. The firm has a market capitalization of $83.51 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the business earned $0.80 earnings per share. QUALCOMM’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, analysts anticipate that QUALCOMM, Inc. will post 3.31 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.48 annualized dividend and a yield of 3.55%. QUALCOMM’s dividend payout ratio (DPR) is currently 77.74%.

In other news, major shareholder Inc/De Qualcomm sold 848,877 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total value of $29,031,593.40. Following the completion of the sale, the insider now owns 848,877 shares in the company, valued at approximately $29,031,593.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin L. Polek sold 6,118 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.26, for a total transaction of $546,092.68. The disclosure for this sale can be found here. Insiders have sold 949,832 shares of company stock valued at $37,443,538 in the last quarter. 0.11% of the stock is owned by company insiders.

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QUALCOMM Company Profile

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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