QUALCOMM Incorporated (QCOM) Stake Decreased by Hayek Kallen Investment Management

Hayek Kallen Investment Management lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,063 shares of the wireless technology company’s stock after selling 137 shares during the quarter. QUALCOMM makes up about 1.7% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 29th largest holding. Hayek Kallen Investment Management’s holdings in QUALCOMM were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its position in shares of QUALCOMM by 9.0% during the first quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock worth $541,521,000 after buying an additional 783,394 shares in the last quarter. Legal & General Group Plc grew its position in shares of QUALCOMM by 1.8% during the second quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock worth $436,076,000 after buying an additional 137,733 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of QUALCOMM by 6.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock worth $405,008,000 after buying an additional 439,180 shares in the last quarter. Schroder Investment Management Group grew its position in shares of QUALCOMM by 30.8% during the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after buying an additional 1,544,792 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of QUALCOMM by 589.4% during the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after buying an additional 5,054,642 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Incorporated (NASDAQ:QCOM) opened at 54.66 on Tuesday. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $70.53. The stock has a market cap of $80.68 billion, a PE ratio of 20.93 and a beta of 1.28. The company has a 50-day moving average price of $52.44 and a 200-day moving average price of $54.09.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

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In other news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 5,837 shares of company stock worth $303,249 in the last ninety days. 0.24% of the stock is currently owned by insiders.

A number of analysts have recently weighed in on the stock. BMO Capital Markets reissued a “market perform” rating and set a $54.00 price target on shares of QUALCOMM in a research report on Monday, July 10th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of QUALCOMM in a research report on Wednesday, July 5th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $63.80.

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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