NorthCoast Asset Management LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

NorthCoast Asset Management LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 135.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,636 shares of the wireless technology company’s stock after acquiring an additional 104,449 shares during the quarter. QUALCOMM accounts for approximately 1.0% of NorthCoast Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. NorthCoast Asset Management LLC’s holdings in QUALCOMM were worth $24,147,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of QCOM. BlackRock Inc. raised its position in QUALCOMM by 4.5% during the first quarter. BlackRock Inc. now owns 83,599,923 shares of the wireless technology company’s stock worth $11,084,513,000 after acquiring an additional 3,600,480 shares during the period. Geode Capital Management LLC increased its stake in shares of QUALCOMM by 3.0% during the first quarter. Geode Capital Management LLC now owns 17,766,435 shares of the wireless technology company’s stock worth $2,349,140,000 after purchasing an additional 525,507 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of QUALCOMM by 6.6% during the 1st quarter. Alliancebernstein L.P. now owns 14,154,422 shares of the wireless technology company’s stock worth $1,876,735,000 after purchasing an additional 876,689 shares during the last quarter. Norges Bank purchased a new position in QUALCOMM in the 4th quarter valued at about $1,638,769,000. Finally, Morgan Stanley boosted its holdings in QUALCOMM by 36.8% in the 1st quarter. Morgan Stanley now owns 10,330,243 shares of the wireless technology company’s stock worth $1,369,687,000 after buying an additional 2,781,284 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Shares of NASDAQ:QCOM traded up $0.23 during mid-day trading on Thursday, reaching $142.40. 139,589 shares of the company were exchanged, compared to its average volume of 6,634,499. QUALCOMM Incorporated has a 1 year low of $87.51 and a 1 year high of $167.94. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.72 and a current ratio of 2.02. The company has a 50-day moving average price of $136.28. The company has a market cap of $160.63 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.32.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.41 by $0.49. The business had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.62 billion. QUALCOMM had a return on equity of 103.71% and a net margin of 27.28%. The company’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. On average, research analysts predict that QUALCOMM Incorporated will post 6.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 2nd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, September 1st. QUALCOMM’s dividend payout ratio is currently 81.44%.

Several research firms have recently weighed in on QCOM. KGI Securities began coverage on QUALCOMM in a research report on Tuesday, June 29th. They issued an “outperform” rating on the stock. Susquehanna Bancshares cut shares of QUALCOMM to a “neutral” rating and lowered their target price for the stock from $175.00 to $155.00 in a research note on Monday, April 19th. The Goldman Sachs Group upgraded shares of QUALCOMM from a “sell” rating to a “neutral” rating and increased their target price for the company from $136.00 to $148.00 in a research report on Monday. Citigroup lowered their price target on shares of QUALCOMM from $165.00 to $154.00 in a research report on Thursday, April 29th. Finally, Susquehanna reiterated a “neutral” rating and issued a $155.00 price objective (down previously from $175.00) on shares of QUALCOMM in a report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Buy” and a consensus target price of $165.56.

In other news, EVP Brian Modoff sold 1,510 shares of the company’s stock in a transaction on Friday, May 14th. The stock was sold at an average price of $129.32, for a total transaction of $195,273.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Erin L. Polek sold 1,835 shares of the stock in a transaction on Friday, May 21st. The shares were sold at an average price of $132.00, for a total value of $242,220.00. Insiders have sold 4,855 shares of company stock worth $643,533 over the last quarter. Insiders own 0.14% of the company’s stock.

QUALCOMM Profile

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in 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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