United Bank VA cut its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,609 shares of the wireless technology company’s stock after selling 3,237 shares during the period. QUALCOMM comprises 3.1% of United Bank VA’s portfolio, making the stock its 17th biggest position. United Bank VA’s holdings in QUALCOMM were worth $3,194,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. United Asset Strategies Inc. bought a new stake in QUALCOMM during the 2nd quarter valued at $5,249,000. Stephens Inc. AR raised its position in shares of QUALCOMM by 10.8% in the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock worth $6,377,000 after acquiring an additional 11,232 shares in the last quarter. Stifel Financial Corp raised its position in shares of QUALCOMM by 47.4% in the 1st quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock worth $168,002,000 after acquiring an additional 943,026 shares in the last quarter. Private Asset Management Inc. raised its position in shares of QUALCOMM by 0.5% in the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after acquiring an additional 4,028 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of QUALCOMM by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock worth $257,798,000 after acquiring an additional 160,226 shares in the last quarter. 76.53% of the stock is owned by institutional investors and hedge funds.
QUALCOMM, Inc. (NASDAQ QCOM) opened at $64.38 on Friday. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28. The stock has a market capitalization of $94,910.00, a PE ratio of 39.02, a P/E/G ratio of 1.84 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 29th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s dividend payout ratio is currently 138.18%.
Several research firms have recently commented on QCOM. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Stifel Nicolaus lowered QUALCOMM from a “buy” rating to a “hold” rating and boosted their price target for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Monday, November 27th. Finally, Royal Bank of Canada boosted their price target on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $66.02.
In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were 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. Insiders have sold a total of 29,989 shares of company stock worth $1,868,744 over the last ninety days. 0.24% of the stock is currently owned by corporate insiders.
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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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