Keybank National Association OH lessened its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 3.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,547 shares of the wireless technology company’s stock after selling 7,579 shares during the quarter. Keybank National Association OH’s holdings in QUALCOMM were worth $14,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in QUALCOMM by 996.4% in the second quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after acquiring an additional 13,893,238 shares during the period. Price T Rowe Associates Inc. MD grew its stake in QUALCOMM by 49.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock valued at $2,672,850,000 after acquiring an additional 11,686,131 shares during the period. Nuveen Asset Management LLC grew its stake in QUALCOMM by 1,405.4% in the second quarter. Nuveen Asset Management LLC now owns 11,560,171 shares of the wireless technology company’s stock valued at $879,382,000 after acquiring an additional 10,792,248 shares during the period. Morgan Stanley grew its stake in QUALCOMM by 126.9% in the second quarter. Morgan Stanley now owns 15,465,753 shares of the wireless technology company’s stock valued at $1,176,482,000 after acquiring an additional 8,648,635 shares during the period. Finally, Vanguard Group Inc. grew its stake in QUALCOMM by 2.4% in the second quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock valued at $7,599,444,000 after acquiring an additional 2,296,163 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.

NASDAQ QCOM traded up $3.35 during trading hours on Friday, hitting $93.33. 973,944 shares of the company traded hands, compared to its average volume of 6,227,865. The business’s 50-day moving average is $78.64 and its 200-day moving average is $76.41. QUALCOMM, Inc. has a twelve month low of $49.10 and a twelve month high of $92.50. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. The stock has a market capitalization of $103.89 billion, a price-to-earnings ratio of 32.86, a P/E/G ratio of 2.03 and a beta of 1.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.71 by $0.07. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. Analysts predict that QUALCOMM, Inc. will post 3.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $2.48 annualized dividend and a yield of 2.66%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.

QCOM has been the subject of a number of research analyst reports. Canaccord Genuity boosted their target price on QUALCOMM from $87.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank decreased their target price on QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research note on Thursday, August 1st. Argus upped their price objective on QUALCOMM from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America reduced their price objective on QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Morgan Stanley set a $89.00 price objective on QUALCOMM and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $85.18.

In other QUALCOMM news, Director Mark D. Mclaughlin acquired 2,705 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were purchased at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the purchase, the director now directly owns 5,220 shares of the company’s stock, valued at $385,444.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michelle M. Sterling sold 10,398 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $779,953.98. The disclosure for this sale can be found here. Insiders have sold 19,118 shares of company stock valued at $1,477,392 over the last three months. Insiders own 0.11% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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