First American Trust FSB raised its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 3.3% in the 4th quarter, HoldingsChannel reports. The fund owned 65,845 shares of the wireless technology company’s stock after purchasing an additional 2,111 shares during the period. First American Trust FSB’s holdings in QUALCOMM were worth $4,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bogart Wealth LLC boosted its stake in QUALCOMM by 223.8% in the fourth quarter. Bogart Wealth LLC now owns 6,841 shares of the wireless technology company’s stock valued at $438,000 after acquiring an additional 4,728 shares in the last quarter. Union Bankshares Corp boosted its stake in QUALCOMM by 2.3% in the fourth quarter. Union Bankshares Corp now owns 91,318 shares of the wireless technology company’s stock valued at $5,846,000 after acquiring an additional 2,072 shares in the last quarter. WIM Asset Management HK Ltd acquired a new position in QUALCOMM in the fourth quarter valued at $15,787,000. DnB Asset Management AS boosted its stake in QUALCOMM by 266.7% in the fourth quarter. DnB Asset Management AS now owns 705,216 shares of the wireless technology company’s stock valued at $45,148,000 after acquiring an additional 512,926 shares in the last quarter. Finally, Oak Point Wealth Management acquired a new position in QUALCOMM in the fourth quarter valued at $645,000. Institutional investors own 76.16% of the company’s stock.

Several research firms have issued reports on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, November 27th. Macquarie upped their price objective on shares of QUALCOMM from $55.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Canaccord Genuity upped their price objective on shares of QUALCOMM from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and upped their price objective for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Finally, ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $68.25.

In related news, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the transaction, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at $709,484.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders have sold 53,346 shares of company stock valued at $3,499,504 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at $63.99 on Friday. The firm has a market cap of $94,730.00, a PE ratio of -22.61, a PEG ratio of 1.94 and a beta of 1.38. QUALCOMM, Inc. has a 12 month low of $48.92 and a 12 month high of $69.28. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

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

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

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About QUALCOMM

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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