SkyBridge Capital II LLC Reduces Holdings in QUALCOMM, Inc. (QCOM)

SkyBridge Capital II LLC trimmed its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 26.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,538 shares of the wireless technology company’s stock after selling 46,747 shares during the period. QUALCOMM accounts for 3.5% of SkyBridge Capital II LLC’s portfolio, making the stock its 12th biggest position. SkyBridge Capital II LLC’s holdings in QUALCOMM were worth $7,178,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of QCOM. Saturna Capital CORP increased its holdings in shares of QUALCOMM by 2.1% in the 1st quarter. Saturna Capital CORP now owns 841,597 shares of the wireless technology company’s stock worth $46,633,000 after acquiring an additional 17,125 shares during the period. Alerus Financial NA increased its holdings in shares of QUALCOMM by 211.6% in the 1st quarter. Alerus Financial NA now owns 82,486 shares of the wireless technology company’s stock worth $4,570,000 after acquiring an additional 56,010 shares during the period. Advisors Capital Management LLC increased its holdings in shares of QUALCOMM by 14.9% in the 1st quarter. Advisors Capital Management LLC now owns 571,418 shares of the wireless technology company’s stock worth $31,663,000 after acquiring an additional 74,057 shares during the period. Personal Capital Advisors Corp increased its holdings in shares of QUALCOMM by 62.8% in the 1st quarter. Personal Capital Advisors Corp now owns 6,073 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 2,342 shares during the period. Finally, Smith Salley & Associates increased its holdings in shares of QUALCOMM by 2.2% in the 1st quarter. Smith Salley & Associates now owns 62,920 shares of the wireless technology company’s stock worth $3,487,000 after acquiring an additional 1,330 shares during the period. 76.92% of the stock is currently owned by institutional investors.

In other news, EVP Alexander H. Rogers sold 662 shares of the firm’s stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $50.75, for a total transaction of $33,596.50. Following the completion of the transaction, the executive vice president now owns 8,132 shares in the company, valued at approximately $412,699. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Cristiano R. Amon sold 16,082 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $53.04, for a total transaction of $852,989.28. Following the transaction, the president now owns 37,233 shares of the company’s stock, valued at approximately $1,974,838.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,383 shares of company stock valued at $4,762,616. Insiders own 0.17% of the company’s stock.

A number of research firms recently weighed in on QCOM. Cowen began coverage on shares of QUALCOMM in a report on Thursday, May 17th. They issued a “market perform” rating and a $58.00 price objective on the stock. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a report on Monday, May 14th. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Monday, April 30th. Finally, Canaccord Genuity lowered their target price on shares of QUALCOMM from $79.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.67.

QUALCOMM opened at $58.82 on Thursday, Marketbeat Ratings reports. QUALCOMM, Inc. has a twelve month low of $48.56 and a twelve month high of $69.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.60 and a quick ratio of 3.46. The stock has a market cap of $85.10 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.47.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 25th. The wireless technology company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.10. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.21 billion. During the same quarter last year, the firm posted $1.34 EPS. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. equities research analysts expect that QUALCOMM, Inc. will post 2.71 earnings per share for the current year.

QUALCOMM declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 9th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the wireless technology company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, May 30th will be given a dividend of $0.62 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, May 29th. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. QUALCOMM’s dividend payout ratio (DPR) is 60.32%.

QUALCOMM Company Profile

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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