Security National Bank of SO Dak Has $1.31 Million Stake in QUALCOMM Incorporated (QCOM)

Security National Bank of SO Dak lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 37.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,810 shares of the wireless technology company’s stock after purchasing an additional 6,197 shares during the quarter. QUALCOMM accounts for 1.6% of Security National Bank of SO Dak’s holdings, making the stock its 24th biggest holding. Security National Bank of SO Dak’s holdings in QUALCOMM were worth $1,308,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SFE Investment Counsel lifted its position in shares of QUALCOMM by 10.2% during the 1st quarter. SFE Investment Counsel now owns 137,846 shares of the wireless technology company’s stock worth $7,904,000 after buying an additional 12,804 shares during the last quarter. DnB Asset Management AS lifted its position in shares of QUALCOMM by 239.7% during the 1st quarter. DnB Asset Management AS now owns 576,390 shares of the wireless technology company’s stock worth $33,050,000 after buying an additional 406,700 shares during the last quarter. Bank of The West lifted its position in shares of QUALCOMM by 4.2% during the 1st quarter. Bank of The West now owns 27,895 shares of the wireless technology company’s stock worth $1,599,000 after buying an additional 1,131 shares during the last quarter. Greylin Investment Mangement Inc. lifted its position in shares of QUALCOMM by 13.5% during the 1st quarter. Greylin Investment Mangement Inc. now owns 5,870 shares of the wireless technology company’s stock worth $337,000 after buying an additional 700 shares during the last quarter. Finally, Coastline Trust Co lifted its position in shares of QUALCOMM by 139.8% during the 1st quarter. Coastline Trust Co now owns 13,130 shares of the wireless technology company’s stock worth $752,000 after buying an additional 7,655 shares during the last quarter. 77.03% of the stock is currently owned by institutional investors.

QCOM has been the subject of several recent analyst reports. ValuEngine downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Northland Securities downgraded QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $75.00 to $62.50 in a research report on Wednesday, June 28th. Finally, Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective for the company in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $63.96.

Shares of QUALCOMM Incorporated (QCOM) traded up 1.75% on Monday, hitting $50.51. The company had a trading volume of 3,252,363 shares. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62. The firm’s 50 day moving average price is $52.34 and its 200-day moving average price is $55.25. The stock has a market capitalization of $74.56 billion, a PE ratio of 19.35 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. Analysts forecast that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.59%. QUALCOMM’s payout ratio is 87.36%.

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In related news, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders have sold a total of 28,995 shares of company stock worth $1,587,390 over the last three months. Insiders own 0.24% 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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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