Deprince Race & Zollo Inc. reduced its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 6.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 719,052 shares of the wireless technology company’s stock after selling 53,050 shares during the period. Deprince Race & Zollo Inc.’s holdings in Qualcomm were worth $38,520,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Republic Investment Management Inc. boosted its stake in shares of Qualcomm by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 844,615 shares of the wireless technology company’s stock valued at $43,194,000 after buying an additional 27,934 shares during the last quarter. Conning Inc. raised its stake in shares of Qualcomm by 4.2% in the second quarter. Conning Inc. now owns 475,737 shares of the wireless technology company’s stock valued at $25,485,000 after buying an additional 19,357 shares during the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Qualcomm during the first quarter valued at approximately $865,645,000. Legal & General Group Plc raised its stake in shares of Qualcomm by 2.4% in the first quarter. Legal & General Group Plc now owns 7,071,165 shares of the wireless technology company’s stock valued at $361,632,000 after buying an additional 166,659 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Qualcomm by 13.2% in the first quarter. Envestnet Asset Management Inc. now owns 816,491 shares of the wireless technology company’s stock valued at $41,755,000 after buying an additional 95,268 shares during the last quarter. 78.05% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Qualcomm (NASDAQ:QCOM)

Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 0.96% on Friday, reaching $68.19. The company had a trading volume of 8,398,099 shares. The stock’s 50 day moving average is $63.68 and its 200 day moving average is $56.84. The firm has a market capitalization of $100.49 billion, a price-to-earnings ratio of 19.97 and a beta of 1.25. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $70.40.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Qualcomm Inc. will post $4.30 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.

QCOM has been the topic of several research analyst reports. KeyCorp restated a “buy” rating and set a $59.00 target price on shares of Qualcomm in a research report on Wednesday, July 6th. Morgan Stanley restated a “buy” rating on shares of Qualcomm in a research report on Wednesday, June 15th. Vetr upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $58.08 target price on the stock in a research report on Monday, June 13th. Zacks Investment Research upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, July 11th. Finally, Bank of America Corp. restated a “buy” rating on shares of Qualcomm in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.05.

In other Qualcomm news, President Derek K. Aberle sold 22,653 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total transaction of $1,403,353.35. Following the completion of the transaction, the president now owns 69,234 shares of the company’s stock, valued at approximately $4,289,046.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 33,000 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The disclosure for this sale can be found here. Company 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.

5 Day Chart for NASDAQ:QCOM

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