Stolper Co Invests $3.72 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Stolper Co acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 33,820 shares of the wireless technology company’s stock, valued at approximately $3,718,000. QUALCOMM comprises approximately 1.6% of Stolper Co’s holdings, making the stock its 25th biggest holding.

A number of other large investors have also recently made changes to their positions in QCOM. CoreFirst Bank & Trust boosted its position in shares of QUALCOMM by 103.1% during the second quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. IAG Wealth Partners LLC boosted its position in shares of QUALCOMM by 62.3% during the third quarter. IAG Wealth Partners LLC now owns 224 shares of the wireless technology company’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. Sycomore Asset Management boosted its position in shares of QUALCOMM by 150.0% during the fourth quarter. Sycomore Asset Management now owns 230 shares of the wireless technology company’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Glassy Mountain Advisors Inc. bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $28,000. Finally, Syverson Strege & Co boosted its position in shares of QUALCOMM by 124.3% during the second quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. 70.87% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $0.22 during mid-day trading on Friday, hitting $120.73. 12,304,145 shares of the company traded hands, compared to its average volume of 7,995,837. The stock’s fifty day moving average price is $125.43 and its 200-day moving average price is $121.15. QUALCOMM Incorporated has a one year low of $101.93 and a one year high of $161.30. The company has a quick ratio of 1.41, a current ratio of 2.09 and a debt-to-equity ratio of 0.82. The firm has a market cap of $134.61 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 0.91 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.02. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the company posted $2.96 earnings per share. QUALCOMM’s revenue for the quarter was down 11.6% on a year-over-year basis. Research analysts anticipate that QUALCOMM Incorporated will post 8.21 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 2nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 1st. QUALCOMM’s dividend payout ratio (DPR) is 28.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QCOM shares. KeyCorp lifted their price objective on QUALCOMM from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Bank of America reiterated a “buy” rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Friday, February 3rd. Citigroup lifted their price objective on QUALCOMM from $105.00 to $132.00 and gave the company a “neutral” rating in a research note on Sunday, February 5th. Susquehanna upgraded QUALCOMM from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $130.00 to $140.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $185.00 to $160.00 and set an “overweight” rating for the company in a research note on Tuesday, December 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.48.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 27,626 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the completion of the transaction, the insider now owns 23,637 shares of the company’s stock, valued at $3,107,792.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Alexander H. Rogers sold 27,626 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the completion of the transaction, the insider now owns 23,637 shares of the company’s stock, valued at $3,107,792.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey William Henderson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total value of $310,125.00. Following the completion of the transaction, the director now directly owns 4,605 shares of the company’s stock, valued at approximately $571,250.25. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

QUALCOMM Profile

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.