SFE Investment Counsel Has $11.29 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

SFE Investment Counsel grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the second quarter, HoldingsChannel.com reports. The fund owned 78,987 shares of the wireless technology company’s stock after buying an additional 2,285 shares during the period. QUALCOMM comprises about 3.1% of SFE Investment Counsel’s portfolio, making the stock its 3rd biggest holding. SFE Investment Counsel’s holdings in QUALCOMM were worth $11,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in QCOM. Capital Investment Advisory Services LLC grew its position in shares of QUALCOMM by 9.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 4,501 shares of the wireless technology company’s stock valued at $597,000 after acquiring an additional 375 shares during the period. Avidian Wealth Solutions LLC boosted its holdings in shares of QUALCOMM by 2.3% during the 1st quarter. Avidian Wealth Solutions LLC now owns 4,251 shares of the wireless technology company’s stock worth $564,000 after buying an additional 94 shares during the period. Congress Asset Management Co. MA boosted its holdings in shares of QUALCOMM by 37.4% during the 1st quarter. Congress Asset Management Co. MA now owns 2,027 shares of the wireless technology company’s stock worth $269,000 after buying an additional 552 shares during the period. Bridges Investment Management Inc. boosted its holdings in shares of QUALCOMM by 13.5% during the 1st quarter. Bridges Investment Management Inc. now owns 27,383 shares of the wireless technology company’s stock worth $3,631,000 after buying an additional 3,260 shares during the period. Finally, Lakeview Capital Partners LLC boosted its holdings in shares of QUALCOMM by 50.8% during the 1st quarter. Lakeview Capital Partners LLC now owns 2,774 shares of the wireless technology company’s stock worth $368,000 after buying an additional 934 shares during the period. 71.77% of the stock is owned by institutional investors.

NASDAQ:QCOM traded down $3.02 during trading hours on Wednesday, reaching $138.12. 398,576 shares of the company traded hands, compared to its average volume of 8,847,491. The firm’s 50-day moving average is $144.06 and its 200-day moving average is $137.84. The stock has a market cap of $155.80 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.94 and a beta of 1.29. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.72 and a quick ratio of 1.45. QUALCOMM Incorporated has a 1-year low of $108.30 and a 1-year high of $167.94.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 28th. The wireless technology company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.24. QUALCOMM had a return on equity of 102.31% and a net margin of 28.25%. The business had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.58 billion. As a group, research analysts predict that QUALCOMM Incorporated will post 7.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Thursday, September 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, September 1st. QUALCOMM’s dividend payout ratio (DPR) is 81.44%.

Several research analysts recently issued reports on the stock. KGI Securities started coverage on shares of QUALCOMM in a research note on Tuesday, June 29th. They set an “outperform” rating on the stock. Morgan Stanley increased their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. The Goldman Sachs Group upgraded shares of QUALCOMM from a “sell” rating to a “neutral” rating and increased their price target for the company from $136.00 to $148.00 in a research report on Monday, July 19th. Cowen increased their target price on shares of QUALCOMM from $180.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, July 29th. Finally, Susquehanna Bancshares reaffirmed a “hold” rating and issued a $157.00 target price on shares of QUALCOMM in a research note on Thursday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $167.81.

QUALCOMM Company Profile

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

Further Reading: Fibonacci Channel

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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