Aetna Inc. PA Buys New Stake in QUALCOMM, Inc. (QCOM)

Aetna Inc. PA purchased a new position in QUALCOMM, Inc. (NASDAQ:QCOM) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 190,360 shares of the wireless technology company’s stock, valued at approximately $12,411,000. QUALCOMM accounts for about 22.1% of Aetna Inc. PA’s holdings, making the stock its largest position.

Other hedge funds have also recently made changes to their positions in the company. Sterling Global Strategies LLC increased its position in QUALCOMM by 0.4% in the fourth quarter. Sterling Global Strategies LLC now owns 3,980 shares of the wireless technology company’s stock valued at $259,000 after buying an additional 14 shares during the last quarter. Citizens Financial Group Inc RI increased its position in QUALCOMM by 0.3% in the third quarter. Citizens Financial Group Inc RI now owns 4,891 shares of the wireless technology company’s stock valued at $335,000 after buying an additional 16 shares during the last quarter. Kanaly Trust Co increased its position in QUALCOMM by 0.6% in the third quarter. Kanaly Trust Co now owns 4,819 shares of the wireless technology company’s stock valued at $330,000 after buying an additional 27 shares during the last quarter. FCA Corp TX increased its position in QUALCOMM by 0.9% in the third quarter. FCA Corp TX now owns 4,738 shares of the wireless technology company’s stock valued at $325,000 after buying an additional 40 shares during the last quarter. Finally, Eidelman Virant Capital increased its position in QUALCOMM by 0.5% in the third quarter. Eidelman Virant Capital now owns 10,078 shares of the wireless technology company’s stock valued at $690,000 after buying an additional 50 shares during the last quarter. 79.28% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened at 57.81 on Tuesday. The firm has a market capitalization of $85.39 billion, a PE ratio of 17.63 and a beta of 1.31. QUALCOMM, Inc. has a 52-week low of $49.67 and a 52-week high of $71.62. The company’s 50-day moving average is $55.89 and its 200 day moving average is $63.12.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $6.12 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. QUALCOMM’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. Equities analysts expect that QUALCOMM, Inc. will post $4.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 1st will be paid a $0.53 dividend. The ex-dividend date is Monday, February 27th. This represents a $2.12 annualized dividend and a yield of 3.67%. QUALCOMM’s dividend payout ratio is currently 64.63%.

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Several research firms have issued reports on QCOM. Susquehanna Bancshares Inc began coverage on shares of QUALCOMM in a report on Tuesday, December 20th. They set a “positive” rating and a $80.00 price objective on the stock. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $73.01 price objective on the stock. in a report on Thursday, December 22nd. Cowen and Company decreased their price objective on shares of QUALCOMM to $73.00 in a report on Thursday, January 26th. JPMorgan Chase & Co. downgraded shares of QUALCOMM from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $69.34 to $70.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 price objective on shares of QUALCOMM in a report on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM has a consensus rating of “Buy” and a consensus target price of $66.98.

In related news, Director Anthony J. Vinciquerra purchased 1,000 shares of the stock in a transaction dated Monday, January 30th. The shares were acquired at an average cost of $53.99 per share, with a total value of $53,990.00. Following the purchase, the director now directly owns 1,281 shares in the company, valued at approximately $69,161.19. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 8,993 shares of the company’s stock in a transaction on Thursday, December 29th. The stock was sold at an average price of $65.50, for a total transaction of $589,041.50. Following the transaction, the executive vice president now directly owns 655 shares in the company, valued at $42,902.50. The disclosure for this sale can be found here. Insiders sold a total of 22,614 shares of company stock worth $1,484,029 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

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.

5 Day Chart for NASDAQ:QCOM

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

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