Tocqueville Asset Management L.P. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 705,293 shares of the wireless technology company’s stock after selling 759 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in QUALCOMM were worth $38,946,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership raised its stake in QUALCOMM by 9.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock valued at $541,521,000 after buying an additional 783,394 shares during the last quarter. Legal & General Group Plc raised its stake in QUALCOMM by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock valued at $436,076,000 after buying an additional 137,733 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in QUALCOMM by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock valued at $405,008,000 after buying an additional 439,180 shares during the last quarter. Schroder Investment Management Group raised its stake in QUALCOMM by 30.8% during the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after buying an additional 1,544,792 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in QUALCOMM by 589.4% during the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 5,810 shares of company stock worth $301,596 over the last quarter. 0.17% of the stock is currently owned by company insiders.

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Shares of QUALCOMM Incorporated (QCOM) opened at 52.02 on Friday. The company has a 50-day moving average of $51.88 and a 200-day moving average of $54.17. QUALCOMM Incorporated has a 52-week low of $48.92 and a 52-week high of $71.62. The stock has a market capitalization of $76.78 billion, a price-to-earnings ratio of 19.92 and a beta of 1.28.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 4.38%. QUALCOMM’s payout ratio is 87.36%.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Northland Securities upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 target price for the company in a research note on Friday, September 15th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. Finally, William Blair reiterated a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $63.80.

QUALCOMM 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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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