Tower Research Capital LLC TRC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 78.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,430 shares of the wireless technology company’s stock after selling 24,094 shares during the period. Tower Research Capital LLC TRC’s holdings in QUALCOMM were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. WealthTrust Axiom LLC boosted its stake in QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after buying an additional 15 shares during the period. Liberty Capital Management Inc. boosted its stake in QUALCOMM by 0.4% in the first quarter. Liberty Capital Management Inc. now owns 6,797 shares of the wireless technology company’s stock valued at $390,000 after buying an additional 25 shares during the period. Excalibur Management Corp boosted its stake in QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after buying an additional 31 shares during the period. FCA Corp TX boosted its stake in QUALCOMM by 0.9% in the first quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after buying an additional 43 shares during the period. Finally, Gierl Augustine Investment Management Inc boosted its stake in QUALCOMM by 0.9% in the first quarter. Gierl Augustine Investment Management Inc now owns 5,350 shares of the wireless technology company’s stock valued at $307,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 76.59% of the company’s stock.

QUALCOMM Incorporated (QCOM) traded up 0.39% during mid-day trading on Tuesday, hitting $53.76. The company’s stock had a trading volume of 1,502,251 shares. QUALCOMM Incorporated has a 52-week low of $51.05 and a 52-week high of $71.62. The company’s 50 day moving average is $54.38 and its 200-day moving average is $55.59. The stock has a market cap of $79.35 billion, a P/E ratio of 20.59 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, equities analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.

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Several analysts recently commented on QCOM shares. Vetr cut QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 target price on the stock. in a report on Monday, May 22nd. Stifel Nicolaus upped their target price on QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 26th. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a report on Sunday, May 21st. J P Morgan Chase & Co upgraded QUALCOMM from a “neutral” rating to an “overweight” rating and upped their target price for the company from $50.00 to $68.00 in a report on Monday, May 22nd. Finally, Zacks Investment Research cut QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.96.

In other news, President Derek K. Aberle sold 22,251 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the transaction, the president now owns 28,959 shares of the company’s stock, valued at $1,667,748.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,101 shares of company stock valued at $2,955,612. Corporate insiders own 0.24% of the company’s stock.

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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