Bbva Compass Bancshares Inc. Buys 2,626 Shares of QUALCOMM, Inc. (QCOM)

Bbva Compass Bancshares Inc. grew its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,541 shares of the wireless technology company’s stock after purchasing an additional 2,626 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in QUALCOMM were worth $7,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of QCOM. Stephens Inc. AR increased its position in shares of QUALCOMM by 13.3% during the second quarter. Stephens Inc. AR now owns 102,292 shares of the wireless technology company’s stock worth $5,741,000 after acquiring an additional 11,974 shares during the last quarter. Asset Dedication LLC increased its position in shares of QUALCOMM by 11.3% during the second quarter. Asset Dedication LLC now owns 8,788 shares of the wireless technology company’s stock worth $493,000 after acquiring an additional 894 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of QUALCOMM by 1.5% during the second quarter. Pzena Investment Management LLC now owns 711,742 shares of the wireless technology company’s stock worth $39,943,000 after acquiring an additional 10,759 shares during the last quarter. Argent Trust Co increased its position in shares of QUALCOMM by 264.6% during the second quarter. Argent Trust Co now owns 46,900 shares of the wireless technology company’s stock worth $2,632,000 after acquiring an additional 34,036 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of QUALCOMM by 298.5% during the second quarter. Centaurus Financial Inc. now owns 14,281 shares of the wireless technology company’s stock worth $801,000 after acquiring an additional 10,697 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

QCOM has been the topic of a number of analyst reports. Canaccord Genuity lifted their target price on QUALCOMM from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Cowen raised QUALCOMM from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $64.00 to $80.00 in a research report on Monday, August 6th. Nomura lifted their target price on QUALCOMM from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, September 4th. Royal Bank of Canada lifted their target price on QUALCOMM to $77.00 and gave the stock an “outperform” rating in a research report on Friday, September 7th. Finally, Rosenblatt Securities raised QUALCOMM from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $70.00 in a research report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.86.

In related news, EVP Alexander H. Rogers sold 853 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $63.50, for a total value of $54,165.50. Following the completion of the sale, the executive vice president now directly owns 4,344 shares of the company’s stock, valued at $275,844. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 854 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $72.18, for a total value of $61,641.72. Following the completion of the sale, the executive vice president now directly owns 5,197 shares of the company’s stock, valued at $375,119.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,638 shares of company stock valued at $6,302,079. 0.17% of the stock is owned by corporate insiders.

Shares of QUALCOMM stock opened at $56.72 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62. The stock has a market capitalization of $93.48 billion, a P/E ratio of 17.78, a PEG ratio of 1.98 and a beta of 1.69. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.20. The firm had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.54 billion. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. QUALCOMM’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Equities research analysts anticipate that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.37%. The ex-dividend date is Wednesday, December 5th. QUALCOMM’s dividend payout ratio is currently 77.74%.

QUALCOMM declared that its board has approved a stock buyback plan on Thursday, July 26th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the wireless technology company to purchase up to 34.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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About QUALCOMM

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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