Whittier Trust Co. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,733 shares of the wireless technology company’s stock after selling 485 shares during the period. Whittier Trust Co.’s holdings in QUALCOMM were worth $2,304,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in QCOM. Roanoke Asset Management Corp NY raised its stake in QUALCOMM by 1.0% in the second quarter. Roanoke Asset Management Corp NY now owns 52,892 shares of the wireless technology company’s stock valued at $2,921,000 after buying an additional 500 shares in the last quarter. Viking Fund Management LLC raised its stake in shares of QUALCOMM by 6.3% in the second quarter. Viking Fund Management LLC now owns 67,000 shares of the wireless technology company’s stock worth $3,700,000 after buying an additional 4,000 shares during the period. Sentinel Trust Co. LBA raised its stake in shares of QUALCOMM by 13.5% in the second quarter. Sentinel Trust Co. LBA now owns 96,253 shares of the wireless technology company’s stock worth $5,315,000 after buying an additional 11,447 shares during the period. Butensky & Cohen Financial Security Inc. raised its stake in shares of QUALCOMM by 3.2% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 31,677 shares of the wireless technology company’s stock worth $1,749,000 after buying an additional 975 shares during the period. Finally, Founders Capital Management raised its stake in shares of QUALCOMM by 2.1% in the second quarter. Founders Capital Management now owns 57,325 shares of the wireless technology company’s stock worth $3,165,000 after buying an additional 1,162 shares during the period. Institutional investors own 76.61% of the company’s stock.

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded up 0.2488% during midday trading on Monday, hitting $52.7509. The stock had a trading volume of 1,804,519 shares. QUALCOMM Incorporated has a 12 month low of $51.05 and a 12 month high of $71.62. The stock’s 50 day moving average price is $55.44 and its 200 day moving average price is $56.02. The firm has a market cap of $77.86 billion, a price-to-earnings ratio of 20.2033 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the firm earned $1.16 EPS. The business’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.33%. QUALCOMM’s payout ratio is currently 87.36%.

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QCOM has been the subject of a number of recent research reports. Mizuho restated a “buy” rating and set a $75.00 price target on shares of QUALCOMM in a research note on Tuesday, April 11th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Stifel Nicolaus restated a “buy” rating and set a $64.00 price target on shares of QUALCOMM in a research note on Monday, April 17th. Rosenblatt Securities lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a research note on Wednesday, April 19th. Finally, Cowen and Company restated an “outperform” rating and set a $73.00 price target on shares of QUALCOMM in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $63.96.

In other news, President Derek K. Aberle sold 22,251 shares of QUALCOMM stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $57.59, for a total transaction of $1,281,435.09. Following the transaction, the president now directly owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Derek K. Aberle sold 23,104 shares of QUALCOMM stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares in the company, valued at $324,249.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,802 shares of company stock worth $3,544,381. Insiders own 0.24% of the company’s stock.

About QUALCOMM

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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