Sandy Spring Bank cut its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 7.7% in the 4th quarter, HoldingsChannel reports. The fund owned 96,359 shares of the wireless technology company’s stock after selling 8,032 shares during the quarter. Sandy Spring Bank’s holdings in QUALCOMM were worth $6,169,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in QUALCOMM by 1.5% during the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after buying an additional 1,537,645 shares during the period. FMR LLC boosted its position in QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after buying an additional 11,387,347 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in QUALCOMM by 2.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock valued at $1,330,946,000 after buying an additional 498,324 shares during the period. Capital International Investors boosted its position in QUALCOMM by 41.8% during the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after buying an additional 6,322,645 shares during the period. Finally, Northern Trust Corp boosted its position in QUALCOMM by 2.6% during the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after buying an additional 499,531 shares during the period. Institutional investors own 78.11% of the company’s stock.

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In other QUALCOMM news, EVP Alexander H. Rogers sold 1,180 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $66.94, for a total transaction of $78,989.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James H. Thompson sold 50,126 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the transaction, the executive vice president now directly owns 136,482 shares of the company’s stock, valued at approximately $8,551,962.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,938 shares of company stock valued at $6,137,671. 0.24% of the stock is owned by insiders.

Several analysts have issued reports on QCOM shares. Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price target for the company in a research report on Tuesday, January 2nd. Canaccord Genuity upped their price target on shares of QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. KeyCorp upped their price target on shares of QUALCOMM from $68.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Nomura upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $75.00 in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada upped their price objective on shares of QUALCOMM from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $68.25.

QUALCOMM, Inc. (NASDAQ:QCOM) opened at $59.70 on Wednesday. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. The stock has a market cap of $88,380.00, a PE ratio of -24.37, a P/E/G ratio of 1.96 and a beta of 1.35. The company has a quick ratio of 3.25, a current ratio of 3.41 and a debt-to-equity ratio of 0.81.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. QUALCOMM’s revenue was up 1.7% on a year-over-year basis. analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is currently -93.06%.

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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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