Sawgrass Asset Management LLC boosted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 37.1% during the first quarter, Holdings Channel reports. The firm owned 5,935 shares of the wireless technology company’s stock after buying an additional 1,605 shares during the period. Sawgrass Asset Management LLC’s holdings in QUALCOMM were worth $340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Global Strategies LLC increased its position in QUALCOMM by 0.4% in the fourth quarter. Sterling Global Strategies LLC now owns 3,980 shares of the wireless technology company’s stock worth $259,000 after buying an additional 14 shares during the period. Liberty Capital Management Inc. increased its position in QUALCOMM by 0.4% in the first quarter. Liberty Capital Management Inc. now owns 6,797 shares of the wireless technology company’s stock worth $390,000 after buying an additional 25 shares during the period. Excalibur Management Corp increased its position in QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock worth $251,000 after buying an additional 31 shares during the period. Gierl Augustine Investment Management Inc increased its position in QUALCOMM by 0.9% in the first quarter. Gierl Augustine Investment Management Inc now owns 5,350 shares of the wireless technology company’s stock worth $307,000 after buying an additional 50 shares during the period. Finally, Pacific Global Investment Management CO increased its position in QUALCOMM by 0.3% in the fourth quarter. Pacific Global Investment Management CO now owns 21,703 shares of the wireless technology company’s stock worth $1,415,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Shares of QUALCOMM, Inc. (QCOM) opened at 58.58 on Monday. QUALCOMM, Inc. has a 52 week low of $50.84 and a 52 week high of $71.62. The firm has a 50-day moving average price of $55.32 and a 200-day moving average price of $59.33. The stock has a market cap of $86.55 billion, a price-to-earnings ratio of 19.52 and a beta of 1.31.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.29. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that QUALCOMM, Inc. will post $4.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Friday, May 26th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s dividend payout ratio is currently 64.63%.

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A number of research analysts have weighed in on the company. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 target price on shares of QUALCOMM in a report on Saturday, April 22nd. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price on the stock. in a report on Tuesday, May 2nd. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a report on Monday, May 15th. Rosenblatt Securities downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Wednesday, April 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $60.00 target price on shares of QUALCOMM in a report on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.19.

In other news, EVP Alexander H. Rogers sold 470 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the sale, the executive vice president now owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James H. Thompson sold 25,000 shares of the stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $52.53, for a total transaction of $1,313,250.00. Following the completion of the sale, the executive vice president now directly owns 76,246 shares of the company’s stock, valued at approximately $4,005,202.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,931 shares of company stock valued at $3,536,013. 0.24% of the stock is owned by corporate insiders.

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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