Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,540 shares of the wireless technology company’s stock after selling 10,834 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in QUALCOMM were worth $11,984,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in QUALCOMM by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock valued at $1,170,308,000 after buying an additional 2,463,511 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in QUALCOMM by 22.4% during the first quarter. Artisan Partners Limited Partnership now owns 11,014,540 shares of the wireless technology company’s stock valued at $610,316,000 after buying an additional 2,018,241 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in QUALCOMM by 17.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 9,364,599 shares of the wireless technology company’s stock valued at $518,893,000 after buying an additional 1,419,275 shares during the last quarter. Montag & Caldwell LLC increased its holdings in QUALCOMM by 31,204.1% during the first quarter. Montag & Caldwell LLC now owns 1,341,066 shares of the wireless technology company’s stock valued at $74,308,000 after buying an additional 1,336,782 shares during the last quarter. Finally, FIL Ltd increased its holdings in QUALCOMM by 36.5% during the first quarter. FIL Ltd now owns 3,253,065 shares of the wireless technology company’s stock valued at $180,252,000 after buying an additional 869,659 shares during the last quarter. 77.42% of the stock is owned by hedge funds and other institutional investors.

QCOM opened at $66.06 on Monday. The company has a market capitalization of $95.23 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.91 and a beta of 1.57. QUALCOMM, Inc. has a 1-year low of $48.56 and a 1-year high of $69.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.30. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.19 billion. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. equities research analysts anticipate that QUALCOMM, Inc. will post 3.12 earnings per share for the current fiscal year.

QUALCOMM declared that its Board of Directors has authorized a share buyback program on Wednesday, May 9th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the wireless technology company to buy up to 12.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 5th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.75%. QUALCOMM’s payout ratio is currently 65.61%.

In related news, EVP Alexander H. Rogers sold 828 shares of the company’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $63.40, for a total transaction of $52,495.20. Following the completion of the transaction, the executive vice president now owns 7,170 shares in the company, valued at $454,578. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 1,052 shares of the company’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $59.55, for a total transaction of $62,646.60. Following the transaction, the executive vice president now owns 8,787 shares of the company’s stock, valued at approximately $523,265.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,669 shares of company stock valued at $159,760. Company insiders own 0.24% of the company’s stock.

A number of analysts have commented on the stock. BidaskClub cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Summit Insights raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Monday, July 30th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. Finally, Cowen assumed coverage on shares of QUALCOMM in a report on Thursday, May 17th. They set a “market perform” rating and a $58.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $66.80.

QUALCOMM Company 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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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