Alpha Cubed Investments LLC decreased its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 59,824 shares of the wireless technology company’s stock after selling 2,083 shares during the period. Alpha Cubed Investments LLC’s holdings in QUALCOMM were worth $3,405,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of QUALCOMM by 1,897,041.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock valued at $1,500,428,000 after buying an additional 20,829,517 shares in the last quarter. Morgan Stanley boosted its stake in QUALCOMM by 163.2% in the 3rd quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock worth $1,360,740,000 after purchasing an additional 11,713,988 shares during the period. Point72 Asset Management L.P. acquired a new position in QUALCOMM in the 3rd quarter worth $357,926,000. Capital World Investors boosted its stake in QUALCOMM by 33.5% in the 3rd quarter. Capital World Investors now owns 18,580,637 shares of the wireless technology company’s stock worth $1,338,363,000 after purchasing an additional 4,662,437 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in QUALCOMM by 28.8% in the 3rd quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock worth $662,161,000 after purchasing an additional 2,058,096 shares during the period. Institutional investors own 89.53% of the company’s stock.

In related news, EVP Donald J. Rosenberg sold 9,048 shares of the firm’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $58.01, for a total value of $524,874.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cristiano R. Amon sold 18,323 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $60.23, for a total transaction of $1,103,594.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,668 shares of company stock valued at $1,976,189. Company insiders own 0.24% of the company’s stock.

A number of brokerages recently weighed in on QCOM. BidaskClub lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. UBS Group upped their target price on shares of QUALCOMM from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, November 5th. Cowen reduced their target price on shares of QUALCOMM from $80.00 to $73.00 and set an “outperform” rating for the company in a research note on Thursday, November 8th. Finally, Bank of America lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and an average price target of $66.25.

QUALCOMM stock opened at $49.61 on Monday. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $76.50. The company has a debt-to-equity ratio of 16.56, a current ratio of 1.55 and a quick ratio of 1.40. The stock has a market cap of $60.04 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.52 and a beta of 1.18.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 29.58%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the business posted $0.98 EPS. The company’s quarterly revenue was down 21.3% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM, Inc. will post 3.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, March 6th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.00%. QUALCOMM’s dividend payout ratio is 77.74%.

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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.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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