Plimoth Trust Co. LLC decreased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 7.1% in the first quarter, Holdings Channel reports. The institutional investor owned 34,152 shares of the wireless technology company’s stock after selling 2,605 shares during the quarter. Plimoth Trust Co. LLC’s holdings in QUALCOMM were worth $1,947,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in QUALCOMM by 9,505.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock worth $591,000 after purchasing an additional 33,262,770 shares during the period. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $736,806,000. Morgan Stanley increased its stake in shares of QUALCOMM by 163.2% during the third quarter. Morgan Stanley now owns 18,891,278 shares of the wireless technology company’s stock valued at $1,360,740,000 after buying an additional 11,713,988 shares during the period. Bank of New York Mellon Corp increased its stake in shares of QUALCOMM by 24.1% during the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock valued at $1,471,289,000 after buying an additional 5,022,323 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of QUALCOMM by 28.8% during the third quarter. Clearbridge Investments LLC now owns 9,192,851 shares of the wireless technology company’s stock valued at $662,161,000 after buying an additional 2,058,096 shares during the period. Institutional investors own 83.70% of the company’s stock.

NASDAQ:QCOM opened at $81.97 on Tuesday. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38. QUALCOMM, Inc. has a 12-month low of $48.56 and a 12-month high of $82.52. The stock has a market cap of $96.69 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue was down 21.3% on a year-over-year basis. As a group, research analysts anticipate that QUALCOMM, Inc. will post 3.14 EPS for the current year.

In related news, President Cristiano R. Amon sold 13,466 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the sale, the president now owns 37,614 shares in the company, valued at $2,256,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James H. Thompson sold 40,000 shares of the stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now owns 62,301 shares of the company’s stock, valued at approximately $3,161,775.75. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Several equities research analysts recently weighed in on QCOM shares. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Zacks Investment Research cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $60.00 price target (down from $68.00) on shares of QUALCOMM in a research note on Monday, January 14th. Barclays reaffirmed a “buy” rating and issued a $70.00 price target on shares of QUALCOMM in a research note on Friday, January 18th. Finally, Cowen reaffirmed an “outperform” rating and issued a $70.00 price target (down from $73.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $76.32.

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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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