QUALCOMM, Inc. (QCOM) Holdings Trimmed by Mission Wealth Management LP

Mission Wealth Management LP lowered its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 37.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,481 shares of the wireless technology company’s stock after selling 2,045 shares during the period. Mission Wealth Management LP’s holdings in QUALCOMM were worth $251,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC lifted its position in QUALCOMM by 4.6% during the 2nd quarter. Fisher Asset Management LLC now owns 775,737 shares of the wireless technology company’s stock valued at $43,534,000 after acquiring an additional 34,193 shares during the period. Fulton Bank N.A. lifted its position in QUALCOMM by 4.5% during the 2nd quarter. Fulton Bank N.A. now owns 26,662 shares of the wireless technology company’s stock valued at $1,496,000 after acquiring an additional 1,140 shares during the period. Addison Capital Co lifted its position in QUALCOMM by 50.2% during the 2nd quarter. Addison Capital Co now owns 49,653 shares of the wireless technology company’s stock valued at $2,787,000 after acquiring an additional 16,590 shares during the period. Xact Kapitalforvaltning AB lifted its position in QUALCOMM by 3.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 289,045 shares of the wireless technology company’s stock valued at $16,221,000 after acquiring an additional 9,299 shares during the period. Finally, Raymond James Trust N.A. lifted its position in QUALCOMM by 13.5% during the 2nd quarter. Raymond James Trust N.A. now owns 179,918 shares of the wireless technology company’s stock valued at $10,097,000 after acquiring an additional 21,458 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $63.50, for a total value of $54,165.50. Following the completion of the sale, the executive vice president now directly owns 4,344 shares in the company, valued at $275,844. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 854 shares of QUALCOMM stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $72.18, for a total transaction of $61,641.72. Following the completion of the sale, the executive vice president now owns 5,197 shares of the company’s stock, valued at $375,119.46. The disclosure for this sale can be found here. Insiders sold 91,638 shares of company stock valued at $6,302,079 over the last quarter. Company insiders own 0.17% of the company’s stock.

QCOM has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of QUALCOMM to $77.00 and gave the company an “outperform” rating in a research report on Friday, September 7th. UBS Group lifted their price target on shares of QUALCOMM from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday. BidaskClub lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Canaccord Genuity reduced their price objective on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, September 25th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. QUALCOMM has a consensus rating of “Hold” and an average price target of $72.22.

Shares of QCOM stock opened at $63.21 on Thursday. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.50. The company has a market capitalization of $93.48 billion, a PE ratio of 16.72, a P/E/G ratio of 1.98 and a beta of 1.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The firm had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM, Inc. will post 3.12 EPS for the current fiscal year.

QUALCOMM announced that its Board of Directors has approved a share repurchase program on Thursday, July 26th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the wireless technology company to repurchase up to 34.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.92%. QUALCOMM’s dividend payout ratio is presently 65.61%.

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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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