Centaurus Financial Inc. raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 298.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,281 shares of the wireless technology company’s stock after purchasing an additional 10,697 shares during the period. Centaurus Financial Inc.’s holdings in QUALCOMM were worth $801,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in QUALCOMM by 13.4% in 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 purchasing an additional 2,463,511 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in QUALCOMM by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 17,783,314 shares of the wireless technology company’s stock valued at $985,374,000 after purchasing an additional 77,817 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of 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 worth $610,316,000 after acquiring an additional 2,018,241 shares during the last quarter. Parnassus Investments CA grew its position in shares of QUALCOMM by 3.6% during the second quarter. Parnassus Investments CA now owns 10,150,000 shares of the wireless technology company’s stock worth $569,618,000 after acquiring an additional 350,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of QUALCOMM by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 9,687,604 shares of the wireless technology company’s stock worth $543,669,000 after acquiring an additional 323,005 shares during the last quarter. Institutional investors own 77.42% of the company’s stock.

In other QUALCOMM news, EVP Alexander H. Rogers sold 828 shares of the firm’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $63.40, for a total value of $52,495.20. Following the completion of the sale, the executive vice president now owns 7,170 shares of the company’s stock, valued at $454,578. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 789 shares of the firm’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $56.55, for a total value of $44,617.95. Following the completion of the sale, the executive vice president now directly owns 7,998 shares of the company’s stock, valued at approximately $452,286.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,923 shares of company stock valued at $185,098. Corporate insiders own 0.17% of the company’s stock.

Shares of NASDAQ QCOM opened at $75.09 on Friday. 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, Inc. has a 1-year low of $48.56 and a 1-year high of $76.04. The firm has a market cap of $105.41 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.12 and a beta of 1.66.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.30. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $0.83 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts predict that QUALCOMM, Inc. will post 3.11 earnings per share for the current fiscal year.

QUALCOMM announced that its board has approved a share repurchase plan on Thursday, July 26th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the wireless technology company to buy up to 34.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 5th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, September 4th. QUALCOMM’s dividend payout ratio is presently 65.61%.

A number of equities analysts have recently issued reports on QCOM shares. BidaskClub upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Saturday, May 26th. Deutsche Bank raised their target price on shares of QUALCOMM to $60.00 and gave the stock a “hold” rating in a research report on Monday, July 23rd. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Cowen raised their target price on shares of QUALCOMM from $58.00 to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, July 26th. Finally, Stifel Nicolaus raised their target price on shares of QUALCOMM from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.52.

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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