QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Atlantic Union Bankshares Corp

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Atlantic Union Bankshares Corp increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% during the third quarter, HoldingsChannel.com reports. The fund owned 87,486 shares of the wireless technology company’s stock after buying an additional 202 shares during the period. QUALCOMM makes up approximately 1.2% of Atlantic Union Bankshares Corp’s holdings, making the stock its 18th largest holding. Atlantic Union Bankshares Corp’s holdings in QUALCOMM were worth $10,295,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Hexavest Inc. boosted its position in shares of QUALCOMM by 109.6% in the 2nd quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock worth $30,000 after buying an additional 171 shares in the last quarter. Cordasco Financial Network boosted its position in shares of QUALCOMM by 96.4% in the 3rd quarter. Cordasco Financial Network now owns 377 shares of the wireless technology company’s stock worth $44,000 after buying an additional 185 shares in the last quarter. Hoover Financial Advisors Inc. purchased a new stake in shares of QUALCOMM in the 2nd quarter worth about $46,000. S.A. Mason LLC boosted its position in shares of QUALCOMM by 70.4% in the 2nd quarter. S.A. Mason LLC now owns 605 shares of the wireless technology company’s stock worth $55,000 after buying an additional 250 shares in the last quarter. Finally, Tarbox Family Office Inc. raised its stake in QUALCOMM by 35.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 616 shares of the wireless technology company’s stock valued at $56,000 after purchasing an additional 162 shares during the last quarter. 74.79% of the stock is currently owned by institutional investors and hedge funds.

QCOM has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on shares of QUALCOMM from $81.00 to $106.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. They noted that the move was a valuation call. Barclays boosted their target price on shares of QUALCOMM from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 29th. Morgan Stanley boosted their target price on shares of QUALCOMM from $102.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Canaccord Genuity boosted their target price on shares of QUALCOMM from $137.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of QUALCOMM from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $121.58.

In other QUALCOMM news, EVP Alexander H. Rogers sold 8,491 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $116.78, for a total value of $991,578.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Cristiano R. Amon sold 20,530 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $130.60, for a total value of $2,681,218.00. Following the completion of the transaction, the president now owns 50,753 shares of the company’s stock, valued at approximately $6,628,341.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,720 shares of company stock valued at $5,348,451. 0.12% of the stock is owned by company insiders.

Shares of NASDAQ:QCOM traded up $0.45 during trading on Friday, reaching $129.03. 6,626,992 shares of the stock were exchanged, compared to its average volume of 10,243,579. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97. QUALCOMM Incorporated has a 12-month low of $58.00 and a 12-month high of $132.42. The firm has a market cap of $145.58 billion, a price-to-earnings ratio of 54.44, a price-to-earnings-growth ratio of 1.79 and a beta of 1.36. The firm’s 50-day moving average price is $117.35 and its 200 day moving average price is $95.14.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.15. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 3.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio is presently 91.55%.

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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