Benjamin F. Edwards & Company Inc. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,110 shares of the wireless technology company’s stock after acquiring an additional 3,356 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in QUALCOMM were worth $1,276,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in QCOM. Baupost Group LLC MA bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $299,085,000. Nordea Investment Management AB increased its stake in shares of QUALCOMM by 589.4% in the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after acquiring an additional 5,054,642 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of QUALCOMM by 30.8% in the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after acquiring an additional 1,544,792 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of QUALCOMM by 73.7% in the 1st quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock valued at $180,788,000 after acquiring an additional 1,337,883 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of QUALCOMM by 57.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,432,959 shares of the wireless technology company’s stock valued at $189,570,000 after acquiring an additional 1,252,781 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Shares of QUALCOMM Incorporated (QCOM) opened at 50.57 on Tuesday. The company has a market cap of $74.64 billion, a PE ratio of 19.37 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $48.92 and a 1-year high of $71.62. The company has a 50-day moving average price of $52.34 and a 200-day moving average price of $55.24.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The business’s revenue was down 11.1% on a year-over-year basis. Equities research analysts expect that QUALCOMM Incorporated will post $4.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.51%. QUALCOMM’s dividend payout ratio is currently 87.36%.

In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction 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 owns 5,855 shares of the company’s stock, valued at $324,249.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction 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. In the last three months, insiders sold 28,995 shares of company stock worth $1,587,390. Insiders own 0.24% of the company’s stock.

QCOM has been the subject of a number of research reports. J P Morgan Chase & Co reissued an “overweight” rating on shares of QUALCOMM in a research note on Wednesday, September 6th. 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 target price on shares of QUALCOMM in a research note on Friday, June 30th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 target price on shares of QUALCOMM in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $65.00 target price on shares of QUALCOMM in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $63.96.

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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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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