Kendall Capital Management Acquires Shares of 8,810 QUALCOMM, Inc. (QCOM)

Kendall Capital Management acquired a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 8,810 shares of the wireless technology company’s stock, valued at approximately $564,000.

Several other hedge funds have also modified their holdings of QCOM. Burke & Herbert Bank & Trust Co. boosted its position in shares of QUALCOMM by 7.2% during the fourth quarter. Burke & Herbert Bank & Trust Co. now owns 11,458 shares of the wireless technology company’s stock valued at $734,000 after purchasing an additional 774 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of QUALCOMM by 1.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 47,706 shares of the wireless technology company’s stock valued at $3,055,000 after purchasing an additional 840 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of QUALCOMM by 2.1% during the third quarter. IFM Investors Pty Ltd now owns 41,146 shares of the wireless technology company’s stock valued at $2,133,000 after purchasing an additional 843 shares in the last quarter. Garland Capital Management Inc. boosted its position in shares of QUALCOMM by 1.1% during the third quarter. Garland Capital Management Inc. now owns 84,200 shares of the wireless technology company’s stock valued at $4,365,000 after purchasing an additional 875 shares in the last quarter. Finally, Marco Investment Management LLC boosted its position in shares of QUALCOMM by 0.4% during the third quarter. Marco Investment Management LLC now owns 217,546 shares of the wireless technology company’s stock valued at $11,278,000 after purchasing an additional 888 shares in the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.

Several equities research analysts recently weighed in on the company. Macquarie lifted their price target on QUALCOMM from $55.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Canaccord Genuity lifted their price target on QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Mizuho restated a “buy” rating and set a $75.00 price target (up from $65.00) on shares of QUALCOMM in a research report on Wednesday, January 17th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, KeyCorp lifted their price target on QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.82.

QCOM stock opened at $55.73 on Monday. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. The firm has a market capitalization of $81,716.04, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.44.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The firm had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. research analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current fiscal year.

In related news, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the sale, the executive vice president now owns 10,403 shares in the company, valued at $709,484.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 663 shares of the company’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total value of $37,519.17. Following the sale, the executive vice president now owns 8,794 shares of the company’s stock, valued at approximately $497,652.46. The disclosure for this sale can be found here. Insiders sold 52,682 shares of company stock valued at $3,306,030 in the last 90 days. Company insiders own 0.17% of the company’s stock.

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QUALCOMM Company Profile

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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