iAB Financial Bank decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,457 shares of the wireless technology company’s stock after selling 3,032 shares during the period. iAB Financial Bank’s holdings in QUALCOMM were worth $1,295,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ronald Blue & Co. LLC increased its position in QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after buying an additional 18 shares in the last quarter. Hollencrest Securities LLC increased its position in QUALCOMM by 0.9% during the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after buying an additional 40 shares in the last quarter. North Star Investment Management Corp. increased its position in QUALCOMM by 0.4% during the second quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock worth $522,000 after buying an additional 42 shares in the last quarter. FCA Corp TX increased its position in QUALCOMM by 0.9% during the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock worth $276,000 after buying an additional 43 shares in the last quarter. Finally, Farmers Trust Co. increased its position in QUALCOMM by 0.9% during the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock worth $288,000 after buying an additional 48 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on the company. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Northland Securities cut QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $75.00 to $62.50 in a report on Wednesday, June 28th. Finally, Vetr upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective on the stock in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $63.80.

In related news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,810 shares of company stock valued at $301,596 in the last three months. Company insiders own 0.17% of the company’s stock.

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QUALCOMM Incorporated (NASDAQ:QCOM) opened at 52.02 on Friday. The firm has a 50-day moving average price of $51.88 and a 200-day moving average price of $54.17. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62. The firm has a market capitalization of $76.78 billion, a P/E ratio of 19.92 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 Zacks’ consensus estimate of $0.81 by $0.02. The business 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%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Equities analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

QUALCOMM Profile

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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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