Latest Stocks: Founders Financial Securities LLC Invests $970,000 in QUALCOMM, Inc. (QCOM)

Latest Stocks: Founders Financial Securities LLC Invests $970,000 in QUALCOMM, Inc. (QCOM)

Founders Financial Securities LLC purchased a new stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,909 shares of the wireless technology company’s stock, valued at approximately $970,000.

Several other institutional investors have also made changes to their positions in the stock. Cardinal Capital Management raised its stake in QUALCOMM by 0.3% in the first quarter. Cardinal Capital Management now owns 61,521 shares of the wireless technology company’s stock valued at $3,528,000 after buying an additional 204 shares during the period. Sawgrass Asset Management LLC raised its stake in QUALCOMM by 37.1% in the first quarter. Sawgrass Asset Management LLC now owns 5,935 shares of the wireless technology company’s stock valued at $340,000 after buying an additional 1,605 shares during the period. Adviser Investments LLC purchased a new stake in QUALCOMM during the first quarter valued at approximately $472,000. Dubuque Bank & Trust Co. raised its stake in QUALCOMM by 26.8% in the first quarter. Dubuque Bank & Trust Co. now owns 4,591 shares of the wireless technology company’s stock valued at $263,000 after buying an additional 971 shares during the period. Finally, Mycio Wealth Partners LLC raised its stake in QUALCOMM by 0.6% in the first quarter. Mycio Wealth Partners LLC now owns 31,771 shares of the wireless technology company’s stock valued at $1,822,000 after buying an additional 195 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.

Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at 58.86 on Tuesday. The firm has a market capitalization of $86.96 billion, a P/E ratio of 19.61 and a beta of 1.31. QUALCOMM, Inc. has a 52-week low of $50.84 and a 52-week high of $71.62. The stock’s 50 day moving average is $55.42 and its 200-day moving average is $59.16.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.29. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. On average, equities analysts forecast that QUALCOMM, Inc. will post $4.25 earnings per share for the current fiscal year.

Several research firms have commented on QCOM. Standpoint Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Friday, April 28th. Mizuho reiterated a “buy” rating and issued a $68.00 price objective (down from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 price objective on shares of QUALCOMM in a report on Thursday, February 16th. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price objective on the stock. in a report on Tuesday, May 2nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $64.19. In related news, EVP Alexander H. Rogers sold 470 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the sale, the executive vice president now directly owns 3,049 shares of the company’s stock, valued at $174,646.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James H. Thompson sold 25,000 shares of the stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $52.53, for a total transaction of $1,313,250.00. Following the sale, the executive vice president now directly owns 76,246 shares of the company’s stock, valued at $4,005,202.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,931 shares of company stock valued at $3,536,013. Company insiders own 0.24% of the company’s stock.

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