Alerus Financial NA Increases Position in QUALCOMM Incorporated (QCOM)

Alerus Financial NA Increases Position in QUALCOMM Incorporated (QCOM)

Alerus Financial NA increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 97,981 shares of the wireless technology company’s stock after buying an additional 988 shares during the period. QUALCOMM makes up about 1.1% of Alerus Financial NA’s investment portfolio, making the stock its 24th largest position. Alerus Financial NA’s holdings in QUALCOMM were worth $6,712,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in QCOM. Banced Corp acquired a new stake in shares of QUALCOMM during the second quarter worth $951,000. LS Investment Advisors LLC boosted its stake in shares of QUALCOMM by 2.6% in the second quarter. LS Investment Advisors LLC now owns 224,475 shares of the wireless technology company’s stock worth $12,025,000 after buying an additional 5,646 shares during the period. Green Square Capital LLC boosted its stake in shares of QUALCOMM by 1,455.5% in the second quarter. Green Square Capital LLC now owns 82,349 shares of the wireless technology company’s stock worth $4,411,000 after buying an additional 77,055 shares during the period. Narwhal Capital Management boosted its stake in shares of QUALCOMM by 3.9% in the second quarter. Narwhal Capital Management now owns 20,455 shares of the wireless technology company’s stock worth $1,096,000 after buying an additional 760 shares during the period. Finally, Bourne Lent Asset Management Inc. boosted its stake in shares of QUALCOMM by 23.6% in the second quarter. Bourne Lent Asset Management Inc. now owns 40,399 shares of the wireless technology company’s stock worth $2,164,000 after buying an additional 7,721 shares during the period. 79.49% of the stock is owned by institutional investors.

QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.35% on Friday, reaching $54.24. 23,474,353 shares of the company were exchanged. The firm has a market capitalization of $80.11 billion, a PE ratio of 16.54 and a beta of 1.35. QUALCOMM Incorporated has a 12-month low of $42.24 and a 12-month high of $71.62. The stock has a 50 day moving average of $64.59 and a 200 day moving average of $64.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The company earned $5.99 billion during the quarter, compared to analysts’ expectations of $6.12 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. Equities analysts anticipate that QUALCOMM Incorporated will post $4.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 1st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Monday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 64.63%.

A number of analysts recently weighed in on the stock. BMO Capital Markets raised shares of QUALCOMM from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $53.00 to $70.00 in a research report on Friday, October 28th. They noted that the move was a valuation call. RBC Capital Markets reissued a “sector perform” rating and issued a $70.00 price objective on shares of QUALCOMM in a research report on Friday, October 28th. J P Morgan Chase & Co cut shares of QUALCOMM from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $69.34 to $70.00 in a research report on Wednesday, December 14th. They noted that the move was a valuation call. Royal Bank Of Canada upped their price objective on shares of QUALCOMM from $59.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, October 3rd. Finally, Vetr cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $67.45.

In other news, President Derek K. Aberle sold 11,621 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $65.68, for a total value of $763,267.28. Following the sale, the president now owns 5,653 shares of the company’s stock, valued at $371,289.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $67.72, for a total transaction of $135,440.00. The disclosure for this sale can be found here. Insiders sold 84,758 shares of company stock valued at $5,693,206 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM).

Related posts

Leave a Comment