Legal & General Group Plc decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 6,331,540 shares of the wireless technology company’s stock after selling 434,464 shares during the period. Legal & General Group Plc’s holdings in QUALCOMM were worth $360,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Bank of New York Mellon Corp raised its holdings in shares of QUALCOMM by 1,897,041.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,830,615 shares of the wireless technology company’s stock worth $1,500,428,000 after acquiring an additional 20,829,517 shares during the period. Westpac Banking Corp boosted its holdings in QUALCOMM by 50.2% in the third quarter. Westpac Banking Corp now owns 143,507 shares of the wireless technology company’s stock valued at $10,337,000 after purchasing an additional 47,979 shares in the last quarter. Boston Private Wealth LLC boosted its holdings in QUALCOMM by 4.5% in the third quarter. Boston Private Wealth LLC now owns 35,817 shares of the wireless technology company’s stock valued at $2,580,000 after purchasing an additional 1,542 shares in the last quarter. Independent Advisor Alliance boosted its holdings in QUALCOMM by 25.9% in the third quarter. Independent Advisor Alliance now owns 16,357 shares of the wireless technology company’s stock valued at $1,149,000 after purchasing an additional 3,367 shares in the last quarter. Finally, Alerus Financial NA boosted its holdings in QUALCOMM by 11.4% in the third quarter. Alerus Financial NA now owns 90,909 shares of the wireless technology company’s stock valued at $6,548,000 after purchasing an additional 9,285 shares in the last quarter. 83.69% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the sale, the executive vice president now owns 62,301 shares in the company, valued at $3,161,775.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on QCOM shares. BidaskClub upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 8th. JPMorgan Chase & Co. started coverage on QUALCOMM in a research note on Wednesday. They issued a “neutral” rating and a $54.00 price objective for the company. ValuEngine upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a research note on Thursday, January 31st. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.95.

QUALCOMM stock opened at $57.04 on Thursday. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $76.50. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38. The company has a market cap of $70.20 billion, a PE ratio of 17.88, a P/E/G ratio of 1.83 and a beta of 1.21.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was down 21.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.

The business also recently declared 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. This represents a $2.48 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Wednesday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

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About QUALCOMM

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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