Gofen & Glossberg LLC IL lowered its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 257,503 shares of the wireless technology company’s stock after selling 3,208 shares during the period. Gofen & Glossberg LLC IL’s holdings in Qualcomm were worth $17,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Global Strategies LLC boosted its position in Qualcomm by 0.4% in the second quarter. Sterling Global Strategies LLC now owns 3,951 shares of the wireless technology company’s stock valued at $211,000 after buying an additional 17 shares during the last quarter. Delphi Private Advisors LLC boosted its position in Qualcomm by 0.4% in the second quarter. Delphi Private Advisors LLC now owns 4,371 shares of the wireless technology company’s stock valued at $234,000 after buying an additional 19 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Qualcomm by 1.0% in the second quarter. Sunbelt Securities Inc. now owns 2,468 shares of the wireless technology company’s stock valued at $132,000 after buying an additional 24 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Qualcomm by 0.5% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,896 shares of the wireless technology company’s stock worth $262,000 after buying an additional 25 shares in the last quarter. Finally, Greenwich Wealth Management LLC boosted its stake in shares of Qualcomm by 0.4% in the second quarter. Greenwich Wealth Management LLC now owns 5,851 shares of the wireless technology company’s stock worth $313,000 after buying an additional 26 shares in the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Qualcomm (NASDAQ:QCOM)

Shares of Qualcomm Inc. (NASDAQ:QCOM) traded up 0.46% during midday trading on Tuesday, reaching $67.41. 2,094,744 shares of the company’s stock traded hands. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $71.62. The company has a market capitalization of $99.56 billion, a PE ratio of 17.69 and a beta of 1.36. The stock’s 50 day moving average is $67.23 and its 200-day moving average is $60.96.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.15. The firm earned $9.17 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Qualcomm had a return on equity of 19.31% and a net margin of 24.22%. Qualcomm’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, analysts forecast that Qualcomm Inc. will post $4.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s payout ratio is 55.64%.

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A number of analysts have commented on QCOM shares. Vetr cut shares of Qualcomm from a “hold” rating to a “sell” rating and set a $60.68 target price for the company. in a report on Monday, August 1st. Credit Suisse Group AG reaffirmed a “buy” rating and set a $70.00 target price on shares of Qualcomm in a report on Wednesday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Qualcomm in a report on Wednesday, August 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price on shares of Qualcomm in a report on Monday, August 15th. Finally, Standpoint Research raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Thursday, August 25th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $66.05.

In other news, President Derek K. Aberle sold 20,874 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $62.81, for a total value of $1,311,095.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew S. Grob sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $62.30, for a total value of $124,600.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

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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