Gradient Investments LLC lowered its stake in Qualcomm Inc. (NASDAQ:QCOM) by 7.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 79,499 shares of the wireless technology company’s stock after selling 6,404 shares during the period. Gradient Investments LLC’s holdings in Qualcomm were worth $5,446,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pinkerton Retirement Specialists LLC boosted its position in shares of Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 2,018 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 791 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Qualcomm during the second quarter valued at about $121,000. Finally, Delta Asset Management LLC TN boosted its position in shares of Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 275 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 2.08% during mid-day trading on Wednesday, hitting $68.16. The company had a trading volume of 12,239,137 shares. The firm’s 50-day moving average price is $67.23 and its 200 day moving average price is $60.96. The company has a market capitalization of $100.66 billion, a P/E ratio of 17.89 and a beta of 1.36. Qualcomm Inc. has a one year low of $42.24 and a one year high of $71.62.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The business earned $9.17 billion during the quarter, compared to analyst estimates of $5.84 billion. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. Qualcomm’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Analysts predict that Qualcomm Inc. will post $4.76 earnings per share for the current fiscal year.

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s dividend payout ratio is presently 55.64%.

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Several equities analysts recently issued reports on QCOM shares. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Qualcomm in a report on Monday, August 15th. Vetr raised Qualcomm from a “hold” rating to a “buy” rating and set a $66.21 price target for the company in a report on Wednesday, August 31st. Standpoint Research raised Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Thursday, August 25th. Credit Suisse Group AG reissued a “buy” rating and issued a $70.00 price target on shares of Qualcomm in a report on Wednesday, August 3rd. Finally, Mizuho raised Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, September 29th. Seventeen 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’s stock. Qualcomm presently has a consensus rating of “Buy” and a consensus price target of $66.05.

In other news, EVP Michelle M. Sterling sold 9,810 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $66.53, for a total value of $652,659.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stiles Barbara Alexander sold 22,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $68.52, for a total transaction of $1,507,440.00. Following the completion of the transaction, the director now directly owns 2,440 shares of the company’s stock, valued at approximately $167,188.80. 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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