Union Bankshares Corp decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,925 shares of the wireless technology company’s stock after selling 2,000 shares during the period. QUALCOMM accounts for approximately 1.6% of Union Bankshares Corp’s holdings, making the stock its 22nd largest position. Union Bankshares Corp’s holdings in QUALCOMM were worth $4,890,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of QUALCOMM by 1,897,041.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock valued at $1,500,428,000 after acquiring an additional 20,829,517 shares in the last quarter. Morgan Stanley grew its holdings in QUALCOMM by 163.2% during the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after purchasing an additional 11,713,988 shares during the period. Capital World Investors grew its holdings in QUALCOMM by 33.5% during the third quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock worth $1,338,363,000 after purchasing an additional 4,662,437 shares during the period. Clearbridge Investments LLC grew its holdings in QUALCOMM by 28.8% during the third quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock worth $662,161,000 after purchasing an additional 2,058,096 shares during the period. Finally, Eaton Vance Management grew its holdings in QUALCOMM by 4.1% during the third quarter. Eaton Vance Management now owns 6,626,488 shares of the wireless technology company’s stock worth $477,306,000 after purchasing an additional 262,658 shares during the period. Institutional investors own 89.58% of the company’s stock.
Shares of NASDAQ:QCOM traded down $0.98 during trading on Monday, reaching $56.52. 163,410 shares of the stock were exchanged, compared to its average volume of 12,113,758. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $76.50. The stock has a market cap of $68.62 billion, a PE ratio of 17.69, a P/E/G ratio of 1.73 and a beta of 1.40. The company has a quick ratio of 1.40, a current ratio of 1.55 and a debt-to-equity ratio of 16.56.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Wednesday, December 5th. QUALCOMM’s dividend payout ratio is presently 77.74%.
In other news, EVP Alexander H. Rogers sold 853 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $63.50, for a total transaction of $54,165.50. Following the completion of the sale, the executive vice president now owns 4,344 shares in the company, valued at $275,844. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $55.22, for a total transaction of $347,720.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,521 shares of company stock valued at $2,030,355. Corporate insiders own 0.24% of the company’s stock.
QCOM has been the subject of a number of research analyst reports. BidaskClub upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Deutsche Bank lifted their price target on QUALCOMM to $70.00 and gave the stock a “hold” rating in a report on Wednesday, September 19th. KeyCorp initiated coverage on QUALCOMM in a report on Tuesday, September 25th. They set a “sector weight” rating for the company. Canaccord Genuity reduced their price target on QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, September 25th. Finally, Stifel Nicolaus lifted their price target on QUALCOMM from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, September 27th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $70.44.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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