Cornerstone Capital Management Holdings LLC. Trims Position in QUALCOMM Incorporated (QCOM)

Cornerstone Capital Management Holdings LLC. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 48.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,152 shares of the wireless technology company’s stock after selling 271,973 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in QUALCOMM were worth $15,800,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of QCOM. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of QUALCOMM during the second quarter valued at $141,000. Jacobi Capital Management LLC lifted its holdings in shares of QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after acquiring an additional 250 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of QUALCOMM by 40.7% during the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the period. FNY Partners Fund LP lifted its holdings in shares of QUALCOMM by 102.0% during the second quarter. FNY Partners Fund LP now owns 3,100 shares of the wireless technology company’s stock valued at $171,000 after acquiring an additional 1,565 shares during the period. Finally, American National Bank lifted its holdings in shares of QUALCOMM by 28.7% during the second quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after acquiring an additional 812 shares during the period. 76.66% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on QCOM shares. Canaccord Genuity lifted their price objective on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Royal Bank Of Canada raised their target price on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Vetr lowered QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 target price for the company. in a research note on Monday, November 6th. Finally, Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and raised their target price for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the company. QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $66.02.

In other news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,427 shares of company stock valued at $1,827,995. Corporate insiders own 0.24% of the company’s stock.

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at $64.56 on Tuesday. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $96,543.06, a PE ratio of 17.33, a P/E/G ratio of 1.83 and a beta of 1.39. QUALCOMM Incorporated has a 12-month low of $48.92 and a 12-month high of $70.24.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a yield of 3.53%. QUALCOMM’s payout ratio is 138.18%.

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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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