QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,699 shares of the wireless technology company’s stock after selling 1,544 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in QUALCOMM were worth $1,916,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the company. Jacobi Capital Management LLC boosted its position in shares of QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares during the last quarter. Alpha Windward LLC boosted its position in shares of QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares during the last quarter. American National Bank boosted its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares during the last quarter. Welch Group LLC boosted its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares during the last quarter. Finally, Commonwealth Financial Services LLC boosted its stake in QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after buying an additional 3,022 shares in the last quarter. 76.59% of the stock is currently owned by institutional investors.

QUALCOMM Incorporated (NASDAQ:QCOM) opened at 51.92 on Friday. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. The firm has a market cap of $76.64 billion, a P/E ratio of 19.89 and a beta of 1.29. The company’s 50-day moving average is $54.04 and its 200 day moving average is $55.54.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. Equities research analysts expect that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.39%. QUALCOMM’s dividend payout ratio is currently 87.36%.

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Several analysts recently commented on QCOM shares. Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Monday, May 1st. Standpoint Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Friday, April 28th. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price target for the company. in a report on Tuesday, May 2nd. Canaccord Genuity decreased their price target on shares of QUALCOMM from $75.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Finally, Stifel Nicolaus lifted their target price on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 26th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.96.

In other news, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the transaction, the executive vice president now owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Derek K. Aberle sold 22,251 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value of $1,281,435.09. Following the transaction, the president now directly owns 28,959 shares in the company, valued at approximately $1,667,748.81. The disclosure for this sale can be found here. In the last three months, insiders sold 52,101 shares of company stock worth $2,955,612. Insiders own 0.17% of the company’s stock.

QUALCOMM Company Profile

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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