Cullen Frost Bankers Inc. lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,180 shares of the wireless technology company’s stock after selling 2,443 shares during the period. Cullen Frost Bankers Inc.’s holdings in QUALCOMM were worth $2,605,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its holdings in shares of QUALCOMM by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after purchasing an additional 250 shares during the last quarter. Alpha Windward LLC grew its holdings in shares of QUALCOMM by 6.1% during the 2nd quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after purchasing an additional 153 shares during the last quarter. Welch Group LLC grew its holdings in shares of QUALCOMM by 2.3% during the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after purchasing an additional 69 shares during the last quarter. American National Bank grew its holdings in shares of QUALCOMM by 28.7% during the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after purchasing an additional 812 shares during the last quarter. Finally, Ronald Blue & Co. LLC grew its holdings in shares of QUALCOMM by 0.5% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after purchasing an additional 18 shares during the last quarter. 76.97% of the stock is currently owned by institutional investors.

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In related news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 28,914 shares of company stock valued at $1,581,095 over the last ninety days. 0.17% of the stock is currently owned by insiders.

QUALCOMM Incorporated (NASDAQ:QCOM) opened at 51.96 on Thursday. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62. The firm has a 50-day moving average of $51.71 and a 200 day moving average of $54.53. The stock has a market capitalization of $76.70 billion, a PE ratio of 19.90 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. QUALCOMM’s revenue was down 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. On average, equities research analysts anticipate that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.

QCOM has been the topic of several recent research reports. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday. Northland Securities lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. Finally, Vetr raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 target price on the stock in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.60.

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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