Livingston Group Asset Management CO operating as Southport Capital Management cut its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,440 shares of the wireless technology company’s stock after selling 6,714 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in QUALCOMM were worth $2,269,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Wrapmanager Inc. bought a new stake in shares of QUALCOMM in the third quarter valued at about $369,000. Conning Inc. lifted its stake in shares of QUALCOMM by 16.4% in the third quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after buying an additional 101,483 shares during the period. Garde Capital Inc. lifted its stake in shares of QUALCOMM by 77.8% in the third quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock valued at $894,000 after buying an additional 7,547 shares during the period. Stephens Inc. AR lifted its stake in shares of QUALCOMM by 10.8% in the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after buying an additional 11,232 shares during the period. Finally, Ffcm LLC lifted its stake in shares of QUALCOMM by 44.7% in the third quarter. Ffcm LLC now owns 101,475 shares of the wireless technology company’s stock valued at $5,261,000 after buying an additional 31,326 shares during the period. Hedge funds and other institutional investors own 75.67% of the company’s stock.
In other news, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at $709,484.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the sale, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,506 shares of company stock valued at $2,977,673. Company insiders own 0.17% of the company’s stock.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.19 earnings per share. equities research analysts forecast that QUALCOMM, Inc. will post 2.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s payout ratio is -93.06%.
QCOM has been the subject of several research reports. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Canaccord Genuity increased their target price on shares of QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. UBS Group reduced their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price for the company in a research note on Monday, November 13th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $68.25.
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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.
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