QUALCOMM, Inc. (NASDAQ:QCOM) Stake Lessened by Private Wealth Partners LLC

Private Wealth Partners LLC decreased its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 95.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,800 shares of the wireless technology company’s stock after selling 134,745 shares during the period. Private Wealth Partners LLC’s holdings in QUALCOMM were worth $353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. FMR LLC grew its position in QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after acquiring an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP bought a new stake in QUALCOMM during the 2nd quarter worth $440,415,000. Capital International Investors grew its position in QUALCOMM by 59.9% during the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after acquiring an additional 5,671,176 shares during the last quarter. Maverick Capital Ltd. bought a new stake in QUALCOMM during the 2nd quarter worth $210,548,000. Finally, Parnassus Investments CA grew its position in QUALCOMM by 62.4% during the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock worth $404,819,000 after acquiring an additional 3,000,000 shares during the last quarter. Institutional investors own 76.23% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Monday, November 27th. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and upped their price target for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday. Mizuho upped their price target on QUALCOMM from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Hold” and a consensus target price of $66.64.

In other news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at $824,638.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,989 shares of company stock valued at $4,678,794. Company insiders own 0.24% of the company’s stock.

QUALCOMM, Inc. (QCOM) opened at $68.25 on Wednesday. QUALCOMM, Inc. has a 52 week low of $48.92 and a 52 week high of $69.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $100,610.00, a P/E ratio of 41.36, a P/E/G ratio of 1.85 and a beta of 1.39.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. analysts anticipate that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.

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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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