Princeton Alpha Management LP decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 86.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,402 shares of the wireless technology company’s stock after selling 46,912 shares during the period. Princeton Alpha Management LP’s holdings in QUALCOMM were worth $424,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Tandem Investment Advisors Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $3,548,000. United Bank purchased a new position in shares of QUALCOMM during the fourth quarter valued at $967,000. Glenview Trust Co purchased a new position in shares of QUALCOMM during the fourth quarter valued at $763,000. Millie Capital Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $214,000. Finally, Federated Investors Inc. PA raised its position in shares of QUALCOMM by 117.6% in the fourth quarter. Federated Investors Inc. PA now owns 402,062 shares of the wireless technology company’s stock valued at $26,214,000 after buying an additional 217,276 shares during the period. 76.76% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Incorporated (NASDAQ QCOM) traded down 0.41% during mid-day trading on Thursday, reaching $52.95. 8,643,537 shares of the company were exchanged. The company has a 50 day moving average of $55.44 and a 200-day moving average of $56.02. The company has a market capitalization of $78.16 billion, a price-to-earnings ratio of 20.29 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $51.05 and a 1-year high of $71.62.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. On average, equities research analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.31%. QUALCOMM’s payout ratio is 87.36%.

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QCOM has been the subject of a number of analyst reports. Standpoint Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Friday, April 28th. Mizuho reaffirmed a “buy” rating and issued a $68.00 price target (down from $75.00) on shares of QUALCOMM in a report on Saturday, April 22nd. BidaskClub raised QUALCOMM from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. Sanford C. Bernstein reissued a “market perform” rating and set a $60.00 price objective on shares of QUALCOMM in a research note on Friday, June 30th. Finally, BMO Capital Markets restated a “market perform” rating and set a $54.00 price target on shares of QUALCOMM in a research report on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $64.18.

In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the sale, the executive vice president now owns 3,049 shares of the company’s stock, valued at $174,646.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann M. Livermore acquired 9,000 shares of QUALCOMM stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $54.59 per share, with a total value of $491,310.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 62,802 shares of company stock valued at $3,544,381. 0.17% of the stock is currently 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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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