Mengis Capital Management Inc. Grows Holdings in QUALCOMM Incorporated (QCOM)

Mengis Capital Management Inc. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 23.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,754 shares of the wireless technology company’s stock after buying an additional 15,982 shares during the period. QUALCOMM accounts for 3.3% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Mengis Capital Management Inc.’s holdings in QUALCOMM were worth $4,680,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. First Midwest Bank Trust Division raised its position in QUALCOMM by 3.0% in the first quarter. First Midwest Bank Trust Division now owns 6,562 shares of the wireless technology company’s stock valued at $376,000 after purchasing an additional 191 shares during the period. Leavell Investment Management Inc. raised its position in QUALCOMM by 33.2% in the first quarter. Leavell Investment Management Inc. now owns 41,220 shares of the wireless technology company’s stock valued at $2,364,000 after purchasing an additional 10,285 shares during the period. Breton Hill Capital Ltd. raised its position in QUALCOMM by 263.2% in the first quarter. Breton Hill Capital Ltd. now owns 6,200 shares of the wireless technology company’s stock valued at $356,000 after purchasing an additional 9,999 shares during the period. Meyer Handelman Co. raised its position in QUALCOMM by 4.0% in the first quarter. Meyer Handelman Co. now owns 294,200 shares of the wireless technology company’s stock valued at $16,869,000 after purchasing an additional 11,300 shares during the period. Finally, Hamlin Capital Management LLC raised its position in QUALCOMM by 47.7% in the first quarter. Hamlin Capital Management LLC now owns 1,432,208 shares of the wireless technology company’s stock valued at $82,123,000 after purchasing an additional 462,369 shares during the period. 76.92% of the stock is currently owned by institutional investors.

Shares of QUALCOMM Incorporated (QCOM) opened at 52.49 on Monday. The firm’s 50-day moving average price is $51.68 and its 200 day moving average price is $54.47. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62. The stock has a market cap of $77.48 billion, a P/E ratio of 20.10 and a beta of 1.28.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 5,810 shares of company stock worth $301,596 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

QCOM has been the topic of a number of research analyst reports. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $62.37 target price on the stock. in a research report on Wednesday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a research report on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating and issued a $65.00 target price on shares of QUALCOMM in a research report on Thursday, July 13th. Mizuho restated a “buy” rating and issued a $65.00 target price on shares of QUALCOMM in a research report on Friday, July 21st. Finally, Morgan Stanley lifted their target price on QUALCOMM from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.60.

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A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. First Midwest Bank Trust Division raised its position in QUALCOMM by 3.0% in the first quarter. First Midwest Bank Trust Division now owns 6,562 shares of the wireless technology company’s stock valued at $376,000 after purchasing an additional 191 shares during the period. Leavell Investment Management Inc. raised its position in QUALCOMM by 33.2% in the first quarter. Leavell Investment Management Inc. now owns 41,220 shares of the wireless technology company’s stock valued at $2,364,000 after purchasing an additional 10,285 shares during the period. Breton Hill Capital Ltd. raised its position in QUALCOMM by 263.2% in the first quarter. Breton Hill Capital Ltd. now owns 6,200 shares of the wireless technology company’s stock valued at $356,000 after purchasing an additional 9,999 shares during the period. Meyer Handelman Co. raised its position in QUALCOMM by 4.0% in the first quarter. Meyer Handelman Co. now owns 294,200 shares of the wireless technology company’s stock valued at $16,869,000 after purchasing an additional 11,300 shares during the period. Finally, Hamlin Capital Management LLC raised its position in QUALCOMM by 47.7% in the first quarter. Hamlin Capital Management LLC now owns 1,432,208 shares of the wireless technology company’s stock valued at $82,123,000 after purchasing an additional 462,369 shares during the period. 76.92% of the stock is currently owned by institutional investors.

Shares of QUALCOMM Incorporated (QCOM) opened at 52.49 on Monday. The firm’s 50-day moving average price is $51.68 and its 200 day moving average price is $54.47. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62. The stock has a market cap of $77.48 billion, a P/E ratio of 20.10 and a beta of 1.28.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 5,810 shares of company stock worth $301,596 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

QCOM has been the topic of a number of research analyst reports. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $62.37 target price on the stock. in a research report on Wednesday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a research report on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating and issued a $65.00 target price on shares of QUALCOMM in a research report on Thursday, July 13th. Mizuho restated a “buy” rating and issued a $65.00 target price on shares of QUALCOMM in a research report on Friday, July 21st. Finally, Morgan Stanley lifted their target price on QUALCOMM from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.60.

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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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