3,966 Shares in QUALCOMM, Inc. (QCOM) Acquired by Lourd Capital LLC
Lourd Capital LLC purchased a new position in QUALCOMM, Inc. (NASDAQ:QCOM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,966 shares of the wireless technology company’s stock, valued at approximately $286,000.
Several other large investors have also bought and sold shares of the business. Stephens Inc. AR lifted its position in shares of QUALCOMM by 13.3% during the 2nd quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock worth $5,741,000 after purchasing an additional 11,974 shares during the last quarter. Asset Dedication LLC lifted its position in shares of QUALCOMM by 11.3% during the 2nd quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock worth $493,000 after purchasing an additional 894 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of QUALCOMM by 1.5% during the 2nd quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock worth $39,943,000 after purchasing an additional 10,759 shares during the last quarter. Argent Trust Co lifted its position in shares of QUALCOMM by 264.6% during the 2nd quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock worth $2,632,000 after purchasing an additional 34,036 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its position in shares of QUALCOMM by 298.5% during the 2nd quarter. Centaurus Financial Inc. now owns 14,281 shares of the wireless technology company’s stock worth $801,000 after purchasing an additional 10,697 shares during the last quarter. Institutional investors and hedge funds own 77.39% of the company’s stock.
Shares of QCOM opened at $64.29 on Friday. QUALCOMM, Inc. has a 1-year low of $48.56 and a 1-year high of $76.50. The firm has a market capitalization of $105.82 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.12 and a beta of 1.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62.
QUALCOMM declared that its board has approved a share repurchase plan on Thursday, July 26th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the wireless technology company to repurchase up to 34.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Several equities research analysts have recently issued reports on the stock. Canaccord Genuity decreased their price objective on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. Cowen lifted their price objective on shares of QUALCOMM from $58.00 to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, July 26th. BidaskClub raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Deutsche Bank lifted their price objective on shares of QUALCOMM to $60.00 and gave the stock a “hold” rating in a research report on Monday, July 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of QUALCOMM from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $71.12.
In other QUALCOMM news, EVP Alexander H. Rogers sold 828 shares of QUALCOMM stock in a transaction on Friday, July 27th. The shares were sold at an average price of $63.40, for a total value of $52,495.20. Following the transaction, the executive vice president now directly owns 7,170 shares in the company, valued at $454,578. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Cristiano R. Amon sold 88,625 shares of QUALCOMM stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the completion of the transaction, the president now owns 58,045 shares in the company, valued at $3,994,076.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,613 shares of company stock valued at $6,300,408. 0.24% of the stock is owned by corporate insiders.
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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