Sumitomo Life Insurance Co. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,103 shares of the wireless technology company’s stock after purchasing an additional 2,365 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in QUALCOMM were worth $3,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthTrust Axiom LLC increased its position in QUALCOMM by 0.3% during the 1st quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after buying an additional 15 shares in the last quarter. Excalibur Management Corp increased its position in QUALCOMM by 0.7% during the 1st quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after buying an additional 31 shares in the last quarter. Hollencrest Securities LLC increased its position in QUALCOMM by 0.9% during the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares in the last quarter. North Star Investment Management Corp. increased its position in QUALCOMM by 0.4% during the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after buying an additional 42 shares in the last quarter. Finally, FCA Corp TX increased its position in QUALCOMM by 0.9% during the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after buying an additional 43 shares in the last quarter. Institutional investors own 77.03% of the company’s stock.

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A number of research analysts recently weighed in on QCOM shares. Vetr raised QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 price objective for the company in a research report on Wednesday, June 7th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “market perform” rating and set a $54.00 price objective on shares of QUALCOMM in a research report on Monday, July 10th. Finally, Deutsche Bank AG started coverage on QUALCOMM in a research report on Monday, June 19th. They set a “hold” rating and a $62.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM presently has an average rating of “Hold” and a consensus price target of $63.96.

Shares of QUALCOMM Incorporated (QCOM) opened at 51.01 on Thursday. The stock has a 50 day moving average price of $52.23 and a 200 day moving average price of $55.16. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62. The company has a market capitalization of $75.29 billion, a PE ratio of 19.54 and a beta of 1.29.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.

In other news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated 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. Over the last three months, insiders have sold 28,995 shares of company stock worth $1,587,390. Corporate 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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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