BB&T Securities LLC Sells 30,636 Shares of QUALCOMM, Inc. (QCOM)

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BB&T Securities LLC reduced its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 341,652 shares of the wireless technology company’s stock after selling 30,636 shares during the quarter. BB&T Securities LLC’s holdings in QUALCOMM were worth $19,443,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Lavaca Capital LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth about $25,000. Csenge Advisory Group bought a new stake in shares of QUALCOMM in the third quarter worth about $28,000. Essex Savings Bank bought a new stake in shares of QUALCOMM in the fourth quarter worth about $48,000. Gradient Investments LLC grew its stake in shares of QUALCOMM by 30.3% in the fourth quarter. Gradient Investments LLC now owns 1,259 shares of the wireless technology company’s stock worth $72,000 after purchasing an additional 293 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of QUALCOMM by 57.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,295 shares of the wireless technology company’s stock worth $74,000 after purchasing an additional 471 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP James H. Thompson sold 40,000 shares of QUALCOMM stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the transaction, the executive vice president now directly owns 62,301 shares in the company, valued at $3,161,775.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $55.22, for a total transaction of $347,720.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,668 shares of company stock worth $4,006,189. Insiders own 0.11% of the company’s stock.

Several analysts recently issued reports on the company. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Deutsche Bank cut their target price on QUALCOMM to $65.00 and set a “hold” rating on the stock in a research note on Thursday, November 8th. Cowen reissued an “outperform” rating and issued a $70.00 target price (down from $73.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Finally, ValuEngine cut QUALCOMM from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and an average target price of $66.00.

QUALCOMM stock opened at $51.59 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25. The company has a market cap of $62.52 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.58 and a beta of 1.17. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The business’s revenue was down 21.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, analysts forecast that QUALCOMM, Inc. will post 3.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, March 6th. This represents a $2.48 annualized dividend and a yield of 4.81%. QUALCOMM’s payout ratio is 77.74%.

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QUALCOMM 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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