Paradigm Financial Advisors LLC boosted its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 15.1% during the second quarter, Holdings Channel reports. The fund owned 45,226 shares of the wireless technology company’s stock after buying an additional 5,918 shares during the period. Qualcomm comprises 1.5% of Paradigm Financial Advisors LLC’s investment portfolio, making the stock its 26th largest position. Paradigm Financial Advisors LLC’s holdings in Qualcomm were worth $2,422,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CapWealth Advisors LLC increased its stake in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in Qualcomm during the second quarter worth about $121,000. Delta Asset Management LLC TN increased its stake in Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock worth $129,000 after buying an additional 275 shares in the last quarter. Finally, Zions Bancorporation increased its stake in Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock worth $155,000 after buying an additional 2,235 shares in the last quarter. 78.05% of the stock is owned by hedge funds and other institutional investors.
Qualcomm Inc. (NASDAQ:QCOM) traded down 0.64% during trading on Tuesday, reaching $66.68. 9,746,412 shares of the company’s stock traded hands. The company has a 50-day moving average price of $63.25 and a 200 day moving average price of $56.58. The firm has a market capitalization of $98.26 billion, a PE ratio of 19.53 and a beta of 1.25. Qualcomm Inc. has a one year low of $42.24 and a one year high of $70.40.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the business posted $0.99 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Qualcomm Inc. will post $4.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s payout ratio is 62.17%.
A number of research firms have recently issued reports on QCOM. Argus reaffirmed a “buy” rating and set a $73.00 price objective (up from $70.00) on shares of Qualcomm in a report on Friday. BMO Capital Markets reaffirmed an “underperform” rating and set a $53.00 price objective on shares of Qualcomm in a report on Sunday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $70.00 price objective (up from $63.00) on shares of Qualcomm in a report on Monday. Royal Bank Of Canada lifted their price objective on shares of Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Vetr cut shares of Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Monday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $63.98.
In other Qualcomm news, EVP Matthew S. Grob sold 33,000 shares of Qualcomm stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of Qualcomm stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $62.37, for a total transaction of $124,740.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Qualcomm Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qualcomm Inc. (NASDAQ:QCOM).
Receive News & Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related companies with MarketBeat.com's FREE daily email newsletter.