Raymond James Trust N.A. Acquires 558 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)


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Raymond James Trust N.A. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 208,141 shares of the wireless technology company’s stock after acquiring an additional 558 shares during the quarter. QUALCOMM makes up approximately 1.2% of Raymond James Trust N.A.’s holdings, making the stock its 11th biggest position. Raymond James Trust N.A.’s holdings in QUALCOMM were worth $31,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Center for Financial Planning Inc. grew its stake in shares of QUALCOMM by 82.5% in the third quarter. Center for Financial Planning Inc. now owns 365 shares of the wireless technology company’s stock valued at $43,000 after buying an additional 165 shares in the last quarter. Cordasco Financial Network grew its stake in shares of QUALCOMM by 96.4% in the third quarter. Cordasco Financial Network now owns 377 shares of the wireless technology company’s stock valued at $44,000 after buying an additional 185 shares in the last quarter. Hudock Inc. grew its stake in shares of QUALCOMM by 31.4% in the third quarter. Hudock Inc. now owns 381 shares of the wireless technology company’s stock valued at $44,000 after buying an additional 91 shares in the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of QUALCOMM by 50.6% in the third quarter. Bedel Financial Consulting Inc. now owns 384 shares of the wireless technology company’s stock valued at $45,000 after buying an additional 129 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of QUALCOMM in the third quarter valued at $51,000. 74.79% of the stock is owned by institutional investors.

QCOM stock opened at $157.42 on Thursday. The company has a market cap of $178.04 billion, a PE ratio of 66.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The business has a 50-day simple moving average of $150.40 and a 200 day simple moving average of $124.06. QUALCOMM Incorporated has a 52 week low of $58.00 and a 52 week high of $161.07. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.28. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $5.94 billion. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. QUALCOMM’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, analysts anticipate that QUALCOMM Incorporated will post 3.2 EPS for the current fiscal year.

QCOM has been the subject of several analyst reports. Royal Bank of Canada raised their target price on shares of QUALCOMM from $106.00 to $126.00 and gave the company a “sector perform” rating in a research note on Thursday, November 5th. Sanford C. Bernstein reissued a “buy” rating and issued a $165.00 target price on shares of QUALCOMM in a research note on Thursday, November 5th. Piper Sandler lifted their price objective on shares of QUALCOMM from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, December 4th. Barclays lifted their price objective on shares of QUALCOMM from $120.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 5th. Finally, Argus lifted their price objective on shares of QUALCOMM from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $146.85.

In other QUALCOMM news, EVP Alexander H. Rogers sold 35,102 shares of the business’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $157.17, for a total transaction of $5,516,981.34. Following the completion of the transaction, the executive vice president now owns 64,365 shares of the company’s stock, valued at $10,116,247.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Cristiano R. Amon sold 73,220 shares of the business’s stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $148.72, for a total value of $10,889,278.40. Following the transaction, the president now directly owns 50,753 shares of the company’s stock, valued at approximately $7,547,986.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,909 shares of company stock valued at $20,502,275. 0.12% of the stock is owned by insiders.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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