Bailard Inc. cut its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 8.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,849 shares of the wireless technology company’s stock after selling 1,383 shares during the period. Bailard Inc.’s holdings in QUALCOMM were worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. lifted its stake in QUALCOMM by 195.0% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 1,549 shares of the wireless technology company’s stock valued at $112,000 after acquiring an additional 1,024 shares during the period. MinichMacGregor Wealth Management LLC lifted its stake in QUALCOMM by 170.9% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock valued at $134,000 after acquiring an additional 1,167 shares during the period. Kiley Juergens Wealth Management LLC lifted its stake in QUALCOMM by 1,760.0% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock valued at $133,000 after acquiring an additional 1,760 shares during the period. Enterprise Financial Services Corp lifted its stake in QUALCOMM by 151.8% during the 3rd quarter. Enterprise Financial Services Corp now owns 1,992 shares of the wireless technology company’s stock valued at $143,000 after acquiring an additional 1,201 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in QUALCOMM during the 3rd quarter valued at approximately $152,000. Institutional investors own 89.63% of the company’s stock.
Several brokerages have commented on QCOM. BidaskClub cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Canaccord Genuity cut their target price on shares of QUALCOMM from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, September 25th. Morgan Stanley raised shares of QUALCOMM from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 15th. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Zacks Investment Research raised shares of QUALCOMM from a “hold” rating to a “strong-buy” rating and set a $63.00 target price for the company in a report on Wednesday, November 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.44.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.20. The firm had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.54 billion. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Analysts expect that QUALCOMM, Inc. will post 3.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Wednesday, December 5th. QUALCOMM’s payout ratio is presently 77.74%.
In related news, EVP Donald J. Rosenberg sold 6,297 shares of the business’s stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $55.22, for a total value of $347,720.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 854 shares of the business’s stock in a transaction 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 directly owns 5,197 shares of the company’s stock, valued at approximately $375,119.46. The disclosure for this sale can be found here. In the last three months, insiders sold 114,952 shares of company stock valued at $7,665,408. 0.17% of the stock is owned by insiders.
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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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