Traders purchased shares of Qualcomm Inc. (NASDAQ:QCOM) on weakness during trading on Friday. $124.36 million flowed into the stock on the tick-up and $44.01 million flowed out of the stock on the tick-down, for a money net flow of $80.35 million into the stock. Of all equities tracked, Qualcomm had the 5th highest net in-flow for the day. Qualcomm traded down ($0.28) for the day and closed at $62.76

QCOM has been the subject of several recent research reports. Vetr cut Qualcomm from a “hold” rating to a “sell” rating and set a $60.68 price target for the company. in a research note on Monday, August 1st. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Qualcomm in a research note on Wednesday. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price target on shares of Qualcomm in a research note on Monday. Wells Fargo & Co. reiterated an “outperform” rating and issued a $65.00 price target on shares of Qualcomm in a research note on Sunday, July 24th. Finally, Brean Capital reiterated a “hold” rating on shares of Qualcomm in a research note on Sunday, July 24th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Qualcomm currently has an average rating of “Buy” and a consensus target price of $61.67.

The stock has a market capitalization of $92.49 billion and a PE ratio of 18.38. The company’s 50-day moving average is $58.92 and its 200 day moving average is $53.36.

Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. On average, analysts anticipate that Qualcomm Inc. will post $4.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st will be paid a $0.53 dividend. The ex-dividend date is Monday, August 29th. This represents a $2.12 annualized dividend and a dividend yield of 3.38%.

In related news, EVP Matthew S. Grob sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $55.25, for a total transaction of $552,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Derek K. Aberle sold 22,653 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total transaction of $1,403,353.35. Following the transaction, the president now owns 69,234 shares in the company, valued at approximately $4,289,046.30. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently modified their holdings of QCOM. Azimuth Capital Management LLC increased its position in shares of Qualcomm by 2.7% in the fourth quarter. Azimuth Capital Management LLC now owns 26,425 shares of the wireless technology company’s stock worth $1,321,000 after buying an additional 695 shares during the period. Weatherly Asset Management L. P. boosted its stake in shares of Qualcomm by 39.1% in the fourth quarter. Weatherly Asset Management L. P. now owns 69,737 shares of the wireless technology company’s stock worth $3,485,000 after buying an additional 19,613 shares in the last quarter. Norinchukin Bank The boosted its stake in shares of Qualcomm by 21.3% in the fourth quarter. Norinchukin Bank The now owns 204,648 shares of the wireless technology company’s stock worth $10,229,000 after buying an additional 35,876 shares in the last quarter. Harris Associates L P boosted its stake in shares of Qualcomm by 3.4% in the fourth quarter. Harris Associates L P now owns 6,158,789 shares of the wireless technology company’s stock worth $307,847,000 after buying an additional 200,890 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Qualcomm by 5.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 423,087 shares of the wireless technology company’s stock worth $21,147,000 after buying an additional 23,185 shares in the last quarter.

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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