Beck Mack & Oliver LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,102,070 shares of the wireless technology company’s stock after selling 12,200 shares during the quarter. QUALCOMM accounts for approximately 2.0% of Beck Mack & Oliver LLC’s portfolio, making the stock its 19th largest holding. Beck Mack & Oliver LLC owned about 0.07% of QUALCOMM worth $60,856,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. WealthTrust Axiom LLC raised its holdings in shares of QUALCOMM by 0.3% in the 1st quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock worth $332,000 after purchasing an additional 15 shares during the period. Excalibur Management Corp raised its holdings in shares of QUALCOMM by 0.7% in the 1st quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock worth $251,000 after purchasing an additional 31 shares during the period. Hollencrest Securities LLC raised its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after purchasing an additional 40 shares during the period. North Star Investment Management Corp. raised its holdings in shares of QUALCOMM by 0.4% in the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock worth $522,000 after purchasing an additional 42 shares during the period. Finally, FCA Corp TX raised its holdings in shares of QUALCOMM by 0.9% in the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock worth $276,000 after purchasing an additional 43 shares during the period. Institutional investors own 77.09% of the company’s stock.

Shares of QUALCOMM Incorporated (QCOM) opened at 49.64 on Friday. The company has a market cap of $73.27 billion, a P/E ratio of 19.01 and a beta of 1.29. The firm’s 50-day moving average price is $52.39 and its 200 day moving average price is $55.28. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping 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 return on equity of 19.64% and a net margin of 17.26%. QUALCOMM’s revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. On average, equities analysts predict that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.

The firm also recently announced 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 4.59%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.

A number of equities analysts have recently commented on QCOM shares. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a research note on Wednesday. Northland Securities lowered QUALCOMM from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $75.00 to $62.50 in a research note on Wednesday, June 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a research note on Monday, July 10th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $56.00 target price on shares of QUALCOMM in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and an average price target of $63.96.

In other news, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the transaction, the president now directly owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders sold a total of 28,995 shares of company stock worth $1,587,390 over the last three months. 0.17% of the stock is owned by company insiders.

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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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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