Chevy Chase Trust Holdings LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Chevy Chase Trust Holdings LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691,121 shares of the wireless technology company’s stock after buying an additional 9,246 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of QUALCOMM worth $78,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mission Wealth Management LP raised its holdings in shares of QUALCOMM by 4.8% in the 3rd quarter. Mission Wealth Management LP now owns 14,528 shares of the wireless technology company’s stock valued at $1,641,000 after purchasing an additional 671 shares in the last quarter. ARGI Investment Services LLC boosted its holdings in shares of QUALCOMM by 3.5% in the 3rd quarter. ARGI Investment Services LLC now owns 3,595 shares of the wireless technology company’s stock valued at $406,000 after acquiring an additional 122 shares during the last quarter. Desjardins Global Asset Management Inc. boosted its holdings in shares of QUALCOMM by 2.5% in the 3rd quarter. Desjardins Global Asset Management Inc. now owns 10,899 shares of the wireless technology company’s stock valued at $1,231,000 after acquiring an additional 266 shares during the last quarter. IFG Advisory LLC lifted its stake in shares of QUALCOMM by 2.9% in the 3rd quarter. IFG Advisory LLC now owns 7,363 shares of the wireless technology company’s stock valued at $831,000 after purchasing an additional 208 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in QUALCOMM by 8.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 23,802 shares of the wireless technology company’s stock worth $2,689,000 after acquiring an additional 1,830 shares during the period. Institutional investors own 70.87% of the company’s stock.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM opened at $130.70 on Wednesday. The firm’s 50 day moving average price is $118.39 and its 200 day moving average price is $126.00. The stock has a market cap of $146.02 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.23. QUALCOMM Incorporated has a fifty-two week low of $101.93 and a fifty-two week high of $192.10. The company has a quick ratio of 1.21, a current ratio of 1.75 and a debt-to-equity ratio of 0.75.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its earnings results on Wednesday, November 2nd. The wireless technology company reported $2.74 earnings per share for the quarter, meeting the consensus estimate of $2.74. The firm had revenue of $11.40 billion for the quarter, compared to analysts’ expectations of $11.38 billion. QUALCOMM had a net margin of 29.27% and a return on equity of 86.71%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 8.81 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 1st. This represents a $3.00 dividend on an annualized basis and a yield of 2.30%. QUALCOMM’s payout ratio is currently 26.36%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Raymond James reduced their price objective on shares of QUALCOMM from $190.00 to $150.00 and set a “strong-buy” rating for the company in a research report on Thursday, November 3rd. Mizuho reduced their price objective on shares of QUALCOMM from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. HSBC started coverage on shares of QUALCOMM in a research report on Monday, October 24th. They set a “buy” rating and a $180.00 price objective for the company. Cowen reduced their target price on shares of QUALCOMM from $185.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $185.00 to $160.00 and set an “overweight” rating for the company in a research report on Tuesday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.46.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 26,427 shares of the firm’s stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the sale, the insider now owns 51,179 shares of the company’s stock, valued at $6,260,727.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Alexander H. Rogers sold 26,427 shares of the firm’s stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the transaction, the insider now directly owns 51,179 shares in the company, valued at $6,260,727.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Erin L. Polek sold 2,894 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $121.10, for a total transaction of $350,463.40. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.

QUALCOMM Company Profile

(Get Rating)

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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