Moors & Cabot Inc. Reduces Stake in QUALCOMM Incorporated (QCOM)

Moors & Cabot Inc. decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,127 shares of the wireless technology company’s stock after selling 1,413 shares during the quarter. Moors & Cabot Inc.’s holdings in QUALCOMM were worth $2,003,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after acquiring an additional 11,387,347 shares during the period. Veritas Asset Management LLP acquired a new stake in QUALCOMM during the second quarter worth about $440,415,000. Capital International Investors grew its holdings in QUALCOMM by 59.9% during the second 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 period. Baupost Group LLC MA acquired a new stake in QUALCOMM during the first quarter worth about $299,085,000. Finally, Nordea Investment Management AB grew its holdings in 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 acquiring an additional 5,054,642 shares during the period. Institutional investors own 76.66% of the company’s stock.

QCOM has been the topic of several analyst reports. Canaccord Genuity raised their target price on QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, UBS dropped their target price on QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. QUALCOMM has a consensus rating of “Hold” and a consensus price target of $66.02.

In other news, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,427 shares of company stock worth $1,827,995. Company insiders own 0.24% of the company’s stock.

Shares of QUALCOMM Incorporated (NASDAQ QCOM) opened at $64.69 on Wednesday. The company has a market capitalization of $95,172.09, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $70.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. equities research analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.52%. QUALCOMM’s dividend payout ratio (DPR) is presently 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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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