Braun Bostich & Associates Inc. Boosts Stock Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

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Braun Bostich & Associates Inc. boosted its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,433 shares of the wireless technology company’s stock after purchasing an additional 306 shares during the quarter. Braun Bostich & Associates Inc.’s holdings in QUALCOMM were worth $358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Klingenstein Fields & Co. LLC grew its holdings in shares of QUALCOMM by 2.0% in the fourth quarter. Klingenstein Fields & Co. LLC now owns 6,267 shares of the wireless technology company’s stock valued at $553,000 after purchasing an additional 120 shares in the last quarter. Plancorp LLC lifted its position in QUALCOMM by 2.1% during the fourth quarter. Plancorp LLC now owns 6,218 shares of the wireless technology company’s stock valued at $549,000 after purchasing an additional 128 shares during the last quarter. Paulson Wealth Management Inc. lifted its position in QUALCOMM by 2.3% during the first quarter. Paulson Wealth Management Inc. now owns 5,948 shares of the wireless technology company’s stock valued at $452,000 after purchasing an additional 131 shares during the last quarter. First National Trust Co grew its stake in shares of QUALCOMM by 1.1% in the 1st quarter. First National Trust Co now owns 13,036 shares of the wireless technology company’s stock worth $882,000 after buying an additional 142 shares in the last quarter. Finally, Washington Trust Bank increased its holdings in shares of QUALCOMM by 4.4% in the 1st quarter. Washington Trust Bank now owns 3,414 shares of the wireless technology company’s stock worth $231,000 after buying an additional 143 shares during the last quarter. 76.65% of the stock is owned by institutional investors and hedge funds.

Shares of QUALCOMM stock traded down $0.15 during trading on Friday, hitting $77.85. 250,469 shares of the stock traded hands, compared to its average volume of 9,994,515. The company has a current ratio of 1.57, a quick ratio of 1.39 and a debt-to-equity ratio of 4.42. The stock’s fifty day simple moving average is $74.98 and its 200 day simple moving average is $82.07. The firm has a market cap of $90.70 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.36. QUALCOMM, Inc. has a 52-week low of $58.00 and a 52-week high of $96.17.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.04 billion. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. As a group, equities analysts expect that QUALCOMM, Inc. will post 3.08 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.34%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, June 3rd. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.

Several brokerages have weighed in on QCOM. Charter Equity reissued a “hold” rating on shares of QUALCOMM in a research note on Thursday, April 30th. Royal Bank of Canada cut their target price on QUALCOMM from $92.00 to $81.00 in a research report on Tuesday, March 10th. UBS Group raised their price target on QUALCOMM from $70.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Citigroup cut their price objective on shares of QUALCOMM from $108.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, BNP Paribas lowered shares of QUALCOMM from an “outperform” rating to an “underperform” rating and set a $65.00 target price for the company. in a report on Tuesday, March 24th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. QUALCOMM presently has an average rating of “Hold” and an average target price of $88.57.

QUALCOMM 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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