QUALCOMM Incorporated (NASDAQ:QCOM) Position Cut by Logan Capital Management Inc.

Logan Capital Management Inc. cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 26.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,031 shares of the wireless technology company’s stock after selling 4,062 shares during the period. Logan Capital Management Inc.’s holdings in QUALCOMM were worth $633,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in shares of QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock valued at $575,769,000 after buying an additional 352,962 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of QUALCOMM by 9.0% in the first quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock valued at $541,521,000 after buying an additional 783,394 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of QUALCOMM by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 6,895,262 shares of the wireless technology company’s stock valued at $395,375,000 after buying an additional 205,103 shares during the period. Schroder Investment Management Group increased its stake in shares of QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after buying an additional 1,544,792 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares during the period. Institutional investors and hedge funds own 76.61% of the company’s stock.

Shares of QUALCOMM Incorporated (QCOM) traded down 0.83% during mid-day trading on Thursday, hitting $52.33. 1,895,167 shares of the company were exchanged. The company has a market capitalization of $77.24 billion, a P/E ratio of 20.04 and a beta of 1.29. The company has a 50 day moving average of $54.70 and a 200 day moving average of $55.64. QUALCOMM Incorporated has a 52 week low of $51.05 and a 52 week high of $71.62. QUALCOMM also saw some unusual options trading activity on Monday. Investors purchased 21,472 put options on the stock. This represents an increase of 152% compared to the typical volume of 8,513 put options.

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

The company also recently declared 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 of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.32%. QUALCOMM’s payout ratio is currently 87.36%.

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QCOM has been the subject of several research reports. Vetr upgraded shares of 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. Susquehanna Bancshares Inc restated a “positive” rating and set a $61.00 price objective (down from $63.00) on shares of QUALCOMM in a research report on Thursday, May 4th. Wells Fargo & Company restated an “outperform” rating and set a $75.00 price objective on shares of QUALCOMM in a research report on Saturday, April 22nd. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective on shares of QUALCOMM in a research report on Monday, April 17th. Finally, Zacks Investment Research downgraded shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $63.96.

In other QUALCOMM news, President Derek K. Aberle sold 22,251 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the transaction, the president now directly owns 28,959 shares in the company, valued at $1,667,748.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Derek K. Aberle sold 23,104 shares of the company’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 transaction of $1,279,499.52. Following the completion of the transaction, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,101 shares of company stock valued at $2,955,612. Company 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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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