HM Payson & Co. Cuts Stake in QUALCOMM, Inc. (QCOM)

HM Payson & Co. decreased its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 480,528 shares of the wireless technology company’s stock after selling 46,139 shares during the quarter. HM Payson & Co.’s holdings in QUALCOMM were worth $24,911,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in QUALCOMM in the 2nd quarter worth about $114,000. Krilogy Financial LLC boosted its stake in QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after purchasing an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new position in QUALCOMM in the 2nd quarter worth about $141,000. Jacobi Capital Management LLC boosted its stake in QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after purchasing an additional 200 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after purchasing an additional 842 shares during the period. Institutional investors own 76.20% of the company’s stock.

QCOM has been the subject 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 research note on Thursday, November 2nd. Mizuho restated a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Finally, UBS Group dropped their price target on QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $66.06.

In other news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $1,868,744 over the last ninety days. Insiders own 0.24% of the company’s stock.

QUALCOMM, Inc. (QCOM) opened at $66.27 on Tuesday. The firm has a market capitalization of $97,690.00, a PE ratio of 40.16, a P/E/G ratio of 1.89 and a beta of 1.39. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’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 EPS. research analysts anticipate that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.

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QUALCOMM 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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