Lenox Wealth Management Inc. Has $666,000 Position in QUALCOMM, Inc. (QCOM)

Lenox Wealth Management Inc. increased its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,673 shares of the wireless technology company’s stock after purchasing an additional 465 shares during the quarter. Lenox Wealth Management Inc.’s holdings in QUALCOMM were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of QCOM. ACG Wealth boosted its position in shares of QUALCOMM by 2.6% during the first quarter. ACG Wealth now owns 7,749 shares of the wireless technology company’s stock worth $442,000 after buying an additional 197 shares during the period. Mathes Company Inc. boosted its position in shares of QUALCOMM by 190.0% during the fourth quarter. Mathes Company Inc. now owns 8,700 shares of the wireless technology company’s stock worth $495,000 after buying an additional 5,700 shares during the period. Conning Inc. boosted its position in shares of QUALCOMM by 5.7% during the first quarter. Conning Inc. now owns 826,550 shares of the wireless technology company’s stock worth $47,138,000 after buying an additional 44,907 shares during the period. World Asset Management Inc boosted its position in shares of QUALCOMM by 18.5% during the first quarter. World Asset Management Inc now owns 91,562 shares of the wireless technology company’s stock worth $5,222,000 after buying an additional 14,322 shares during the period. Finally, Epstein & White Financial LLC raised its stake in shares of QUALCOMM by 34.4% in the fourth quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock valued at $555,000 after acquiring an additional 2,495 shares in the last quarter. Institutional investors own 82.04% of the company’s stock.

Several analysts have recently issued reports on QCOM shares. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. Zacks Investment Research cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. Cowen reiterated an “outperform” rating and issued a $70.00 price objective (down from $73.00) on shares of QUALCOMM in a research note on Thursday, January 31st. ValuEngine upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, Bank of America upgraded QUALCOMM from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $105.00 in a research note on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM has an average rating of “Buy” and a consensus target price of $83.09.

In other QUALCOMM news, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Erin L. Polek sold 6,118 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.26, for a total value of $546,092.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 949,832 shares of company stock worth $37,443,538. 0.11% of the stock is owned by insiders.

QUALCOMM stock opened at $82.81 on Friday. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $90.34. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55. The firm has a market capitalization of $104.87 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.45.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the firm earned $0.80 earnings per share. QUALCOMM’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, analysts anticipate that QUALCOMM, Inc. will post 3.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Wednesday, June 5th. QUALCOMM’s dividend payout ratio is presently 77.74%.

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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.

Further Reading: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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