Butensky & Cohen Financial Security Inc. trimmed its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 3.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 33,898 shares of the wireless technology company’s stock after selling 1,304 shares during the period. QUALCOMM accounts for approximately 2.0% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 2nd largest holding. Butensky & Cohen Financial Security Inc.’s holdings in QUALCOMM were worth $2,442,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Telemus Capital LLC boosted its stake in shares of QUALCOMM by 8.7% in the 2nd quarter. Telemus Capital LLC now owns 9,860 shares of the wireless technology company’s stock valued at $553,000 after purchasing an additional 787 shares in the last quarter. Ascension Asset Management LLC boosted its stake in shares of QUALCOMM by 3.2% in the 2nd quarter. Ascension Asset Management LLC now owns 25,542 shares of the wireless technology company’s stock valued at $1,433,000 after purchasing an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. boosted its stake in shares of QUALCOMM by 1.3% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 62,870 shares of the wireless technology company’s stock valued at $4,529,000 after purchasing an additional 804 shares in the last quarter. KCM Investment Advisors LLC raised its holdings in QUALCOMM by 7.8% in the 2nd quarter. KCM Investment Advisors LLC now owns 11,113 shares of the wireless technology company’s stock valued at $624,000 after buying an additional 808 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in QUALCOMM by 2.9% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 29,757 shares of the wireless technology company’s stock valued at $1,670,000 after buying an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 77.39% of the company’s stock.

QUALCOMM stock opened at $64.29 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50. The company has a market cap 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 (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.30. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $0.83 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Analysts forecast that QUALCOMM, Inc. will post 3.12 earnings per share for the current year.

QUALCOMM declared that its board has initiated a stock repurchase program on Thursday, July 26th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the wireless technology company to reacquire up to 34.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

In other QUALCOMM news, EVP Alexander H. Rogers sold 828 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $63.40, for a total transaction of $52,495.20. Following the completion of the transaction, the executive vice president now owns 7,170 shares in the company, valued at approximately $454,578. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Cristiano R. Amon sold 88,625 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total transaction of $6,098,286.25. Following the transaction, the president now owns 58,045 shares of the company’s stock, valued at approximately $3,994,076.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,613 shares of company stock valued at $6,300,408. Company insiders own 0.24% of the company’s stock.

A number of brokerages recently issued reports on QCOM. Canaccord Genuity dropped their price objective on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, September 25th. Cowen raised their price objective on shares of QUALCOMM from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, July 26th. BidaskClub upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Deutsche Bank raised their price objective on shares of QUALCOMM to $60.00 and gave the company a “hold” rating in a report on Monday, July 23rd. Finally, Stifel Nicolaus raised their price objective on shares of QUALCOMM from $54.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $71.12.

QUALCOMM 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.

Featured Article: Dividend Aristocrat Index

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.