Lederer & Associates Investment Counsel CA reduced its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 48.2% during the fourth quarter, Holdings Channel reports. The fund owned 12,003 shares of the wireless technology company’s stock after selling 11,160 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in QUALCOMM were worth $768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wrapmanager Inc. purchased a new stake in shares of QUALCOMM during the third quarter valued at $369,000. Conning Inc. boosted its position in shares of QUALCOMM by 16.4% during the third quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after buying an additional 101,483 shares during the last quarter. Stephens Inc. AR boosted its position in shares of QUALCOMM by 10.8% during the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after buying an additional 11,232 shares during the last quarter. Ffcm LLC boosted its position in shares of QUALCOMM by 44.7% during the third quarter. Ffcm LLC now owns 101,475 shares of the wireless technology company’s stock valued at $5,261,000 after buying an additional 31,326 shares during the last quarter. Finally, Iberiabank Corp boosted its position in shares of QUALCOMM by 10.5% during the third quarter. Iberiabank Corp now owns 62,137 shares of the wireless technology company’s stock valued at $3,224,000 after buying an additional 5,928 shares during the last quarter. 76.16% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on QCOM shares. BMO Capital Markets increased their price objective on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, November 2nd. UBS Group raised QUALCOMM from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 8th. Royal Bank of Canada raised their target price on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Canaccord Genuity raised their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, Mizuho reissued a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $68.25.

QUALCOMM, Inc. (QCOM) opened at $63.99 on Monday. The firm has a market capitalization of $94,730.00, a P/E ratio of -22.61, a price-to-earnings-growth ratio of 1.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.07. The business had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. equities research analysts expect that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently -80.57%.

In other news, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $68.20, for a total value of $48,626.60. Following the completion of the transaction, the executive vice president now owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders have sold a total of 53,346 shares of company stock valued at $3,499,504 in the last 90 days. 0.17% of the stock is currently owned by company insiders.

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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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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