North Star Asset Management Inc. Trims Stake in QUALCOMM, Inc. (QCOM)

North Star Asset Management Inc. lessened its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 10.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,220 shares of the wireless technology company’s stock after selling 11,277 shares during the quarter. North Star Asset Management Inc.’s holdings in QUALCOMM were worth $5,518,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its holdings 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 in the last quarter. Veritas Asset Management LLP acquired a new stake in QUALCOMM in the second quarter valued at approximately $440,415,000. Capital International Investors raised its holdings in QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after acquiring an additional 5,671,176 shares in the last quarter. Nordea Investment Management AB raised its holdings in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after acquiring an additional 5,054,642 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in QUALCOMM in the second quarter valued at approximately $210,548,000. 76.53% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM, Inc. (NASDAQ QCOM) opened at $64.73 on Friday. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $95,231.06, a P/E ratio of 39.23, a PEG ratio of 1.83 and a beta of 1.39. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) 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 analyst estimates of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. research analysts predict that QUALCOMM, Inc. will post 3.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.52%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.

QCOM has been the topic of several analyst reports. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a report on Monday, November 13th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Canaccord Genuity raised their target price on shares of QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Citigroup raised their target price on shares of QUALCOMM from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Standpoint Research cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently 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 shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,427 shares of company stock worth $1,827,995. Insiders own 0.17% of the company’s stock.

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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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