Cobblestone Capital Advisors LLC NY reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,807 shares of the wireless technology company’s stock after selling 3,710 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in QUALCOMM were worth $1,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American National Bank raised its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares during the period. Welch Group LLC raised its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares during the period. Advantage Investment Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $200,000. Glassman Wealth Services raised its position in shares of QUALCOMM by 9.1% in the fourth quarter. Glassman Wealth Services now owns 3,094 shares of the wireless technology company’s stock valued at $202,000 after buying an additional 258 shares during the period. Finally, Commonwealth Financial Services LLC raised its position in shares of QUALCOMM by 499.5% in the first quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after buying an additional 3,022 shares during the period. 76.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) traded down 0.62% on Friday, hitting $52.62. 8,676,382 shares of the stock traded hands. The stock has a 50 day moving average of $55.44 and a 200 day moving average of $56.02. The company has a market cap of $77.67 billion, a PE ratio of 20.15 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $51.05 and a one year high of $71.62.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Equities analysts anticipate that QUALCOMM Incorporated will post $4.16 earnings per share for the current 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 issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 87.36%.

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

In other QUALCOMM news, Director Ann M. Livermore acquired 9,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were acquired at an average cost of $54.59 per share, with a total value of $491,310.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares in the company, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 62,802 shares of company stock worth $3,544,381 over the last ninety days. Insiders own 0.17% of the company’s stock.

QUALCOMM Company Profile

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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