Flagship Harbor Advisors LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 34.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,584 shares of the wireless technology company's stock after selling 3,492 shares during the period. Flagship Harbor Advisors LLC's holdings in QUALCOMM were worth $1,011,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. State Street Corp boosted its holdings in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after buying an additional 1,989,725 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock worth $1,421,037,000 after buying an additional 498,284 shares during the last quarter. Van ECK Associates Corp grew its holdings in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. Finally, Franklin Resources Inc. raised its position in QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company's stock valued at $1,213,023,000 after acquiring an additional 110,828 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
QCOM has been the topic of a number of analyst reports. KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Morgan Stanley cut their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Finally, Benchmark reissued a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $206.57.
Check Out Our Latest Stock Report on QUALCOMM
QUALCOMM Trading Up 0.5 %
QCOM stock traded up $0.80 during trading on Friday, reaching $172.73. 4,482,198 shares of the stock were exchanged, compared to its average volume of 7,319,251. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $191.90 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 2.85 and a beta of 1.25. The business has a 50 day moving average price of $160.44 and a 200-day moving average price of $166.92. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.
QUALCOMM Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 37.82%.
QUALCOMM Profile
(
Free Report)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.
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