Laurel Wealth Advisors Inc. grew its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 62.5% in the third quarter, Holdings Channel reports. The fund owned 118,329 shares of the wireless technology company’s stock after acquiring an additional 45,489 shares during the period. QUALCOMM makes up 2.1% of Laurel Wealth Advisors Inc.’s investment portfolio, making the stock its 3rd largest position. Laurel Wealth Advisors Inc.’s holdings in QUALCOMM were worth $6,130,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Westwood Holdings Group Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $114,000. Krilogy Financial LLC increased its stake in shares of QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after acquiring an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $141,000. Jacobi Capital Management LLC increased its stake in shares of QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after acquiring an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the last quarter. 76.34% of the stock is owned by institutional investors.

Several equities analysts recently issued reports on QCOM shares. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price objective for the company in a research report on Monday, November 13th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Canaccord Genuity boosted their price objective on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a research report on Monday, November 13th. Citigroup boosted their price objective on QUALCOMM from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Finally, Standpoint Research lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. QUALCOMM presently has an average rating of “Hold” and a consensus price target of $68.25.

QUALCOMM, Inc. (NASDAQ QCOM) opened at $66.07 on Friday. QUALCOMM, Inc. has a 12-month low of $48.92 and a 12-month high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $96,330.00, a P/E ratio of -23.35, a price-to-earnings-growth ratio of 1.94 and a beta of 1.38.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. QUALCOMM had a positive return on equity of 17.06% and a negative net margin of 18.65%. The firm had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the prior year, the firm posted $1.19 EPS. The business’s revenue was up 1.7% on a year-over-year basis. sell-side analysts expect that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is currently -80.57%.

In other news, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $68.20, for a total value of $48,626.60. Following the completion of the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,346 shares of company stock valued at $4,708,304. Insiders own 0.17% of the company’s stock.

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About QUALCOMM

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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