Security National Bank Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)


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Security National Bank purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the first quarter, HoldingsChannel.com reports. The fund purchased 2,653 shares of the wireless technology company’s stock, valued at approximately $352,000.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of QUALCOMM by 5.4% during the 4th quarter. BlackRock Inc. now owns 79,999,443 shares of the wireless technology company’s stock valued at $12,187,113,000 after acquiring an additional 4,097,822 shares during the period. FMR LLC lifted its position in shares of QUALCOMM by 3.4% during the 4th quarter. FMR LLC now owns 56,956,778 shares of the wireless technology company’s stock valued at $8,676,796,000 after acquiring an additional 1,855,061 shares during the period. Alliancebernstein L.P. lifted its position in shares of QUALCOMM by 31.2% during the 4th quarter. Alliancebernstein L.P. now owns 13,277,733 shares of the wireless technology company’s stock valued at $2,022,730,000 after acquiring an additional 3,158,229 shares during the period. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $1,638,769,000. Finally, Clearbridge Investments LLC lifted its position in shares of QUALCOMM by 1.9% during the 4th quarter. Clearbridge Investments LLC now owns 9,447,792 shares of the wireless technology company’s stock valued at $1,439,277,000 after acquiring an additional 179,412 shares during the period. Institutional investors own 74.76% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Robert W. Baird assumed coverage on shares of QUALCOMM in a research note on Tuesday, December 22nd. They set an “outperform” rating and a $200.00 price objective for the company. Cascend Securities raised their price objective on shares of QUALCOMM from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Royal Bank of Canada raised their price objective on shares of QUALCOMM from $126.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 4th. Standpoint Research cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Friday, December 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $160.88.

Shares of NASDAQ:QCOM traded down $0.26 during midday trading on Thursday, hitting $139.17. 223,657 shares of the company’s stock traded hands, compared to its average volume of 10,771,538. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.84 and a current ratio of 2.14. The company has a market cap of $158.10 billion, a PE ratio of 30.78, a P/E/G ratio of 1.27 and a beta of 1.34. The firm’s fifty day moving average price is $134.50 and its two-hundred day moving average price is $140.16. QUALCOMM Incorporated has a twelve month low of $70.00 and a twelve month high of $167.94.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.07. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm’s revenue was up 62.2% compared to the same quarter last year. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 6.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, March 4th were issued a $0.65 dividend. The ex-dividend date of this dividend was Wednesday, March 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 1.87%. QUALCOMM’s dividend payout ratio is currently 77.84%.

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).

Further Reading: Understanding Market Liquidity

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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