Courier Capital LLC cut its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 31.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,130 shares of the wireless technology company’s stock after selling 1,450 shares during the period. Courier Capital LLC’s holdings in QUALCOMM were worth $225,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Element Capital Management LLC acquired a new position in QUALCOMM during the first quarter worth $960,000. ETF Managers Group LLC grew its holdings in QUALCOMM by 142.5% during the first quarter. ETF Managers Group LLC now owns 27,789 shares of the wireless technology company’s stock worth $1,495,000 after acquiring an additional 16,330 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in QUALCOMM by 6.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 125,962 shares of the wireless technology company’s stock worth $6,951,000 after acquiring an additional 8,142 shares during the period. LPL Financial LLC grew its holdings in QUALCOMM by 30.0% during the first quarter. LPL Financial LLC now owns 382,981 shares of the wireless technology company’s stock worth $21,221,000 after acquiring an additional 88,354 shares during the period. Finally, Glenview Trust Co grew its holdings in QUALCOMM by 8.3% during the first quarter. Glenview Trust Co now owns 12,083 shares of the wireless technology company’s stock worth $669,000 after acquiring an additional 921 shares during the period. 77.39% of the stock is owned by institutional investors.

QUALCOMM stock opened at $64.29 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $105.82 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.12 and a beta of 1.66. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.30. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.19 billion. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. QUALCOMM’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. Equities analysts predict that QUALCOMM, Inc. will post 3.12 EPS for the current year.

QUALCOMM announced that its board has approved a share repurchase plan on Thursday, July 26th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to buy up to 34.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of research analysts recently weighed in on the company. Tigress Financial reaffirmed a “buy” rating on shares of QUALCOMM in a report on Friday, September 28th. Stifel Nicolaus upped their price objective on QUALCOMM from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, September 27th. BidaskClub lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Canaccord Genuity dropped their price objective on QUALCOMM from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. Finally, KeyCorp assumed coverage on QUALCOMM in a report on Tuesday, September 25th. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $71.12.

In other QUALCOMM news, EVP Alexander H. Rogers sold 1,306 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $67.37, for a total value of $87,985.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Cristiano R. Amon sold 88,625 shares of the company’s stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $68.81, for a total value of $6,098,286.25. Following the completion of the sale, the president now directly owns 58,045 shares in the company, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. Insiders sold 91,613 shares of company stock worth $6,300,408 in the last three months. 0.24% of the stock is owned by corporate insiders.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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