Nichols & Pratt Advisers LLP MA Decreases Position in QUALCOMM, Inc. (NASDAQ:QCOM)

Nichols & Pratt Advisers LLP MA cut its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 10.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 121,522 shares of the wireless technology company’s stock after selling 13,658 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in QUALCOMM were worth $9,249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Comerica Securities Inc. increased its stake in QUALCOMM by 1.3% in the fourth quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock valued at $1,615,000 after acquiring an additional 370 shares during the last quarter. Peoples Financial Services CORP. increased its stake in QUALCOMM by 21.0% in the first quarter. Peoples Financial Services CORP. now owns 8,346 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 1,450 shares during the last quarter. Highland Capital Management LLC increased its stake in QUALCOMM by 96.0% in the first quarter. Highland Capital Management LLC now owns 104,405 shares of the wireless technology company’s stock valued at $5,954,000 after acquiring an additional 51,131 shares during the last quarter. E&G Advisors LP increased its stake in QUALCOMM by 53.7% in the first quarter. E&G Advisors LP now owns 5,723 shares of the wireless technology company’s stock valued at $326,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Strs Ohio increased its stake in QUALCOMM by 0.3% in the first quarter. Strs Ohio now owns 631,207 shares of the wireless technology company’s stock valued at $35,997,000 after acquiring an additional 1,893 shares during the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ QCOM traded up $1.15 during midday trading on Tuesday, reaching $76.02. 352,993 shares of the company were exchanged, compared to its average volume of 11,276,162. The stock’s 50-day moving average price is $74.01 and its 200-day moving average price is $67.54. The stock has a market cap of $89.08 billion, a P/E ratio of 23.81, a PEG ratio of 1.99 and a beta of 1.62. QUALCOMM, Inc. has a one year low of $49.10 and a one year high of $90.34. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, equities research analysts anticipate that QUALCOMM, Inc. will post 2.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. QUALCOMM’s dividend payout ratio is 77.74%.

In related news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total value of $103,992.08. Following the sale, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

A number of research analysts recently issued reports on QCOM shares. Goldman Sachs Group started coverage on shares of QUALCOMM in a research note on Thursday, May 23rd. They issued a “neutral” rating and a $73.00 price objective on the stock. Daiwa Capital Markets started coverage on shares of QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating on the stock. TheStreet raised shares of QUALCOMM from a “c+” rating to a “b-” rating in a research note on Thursday, August 1st. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (up from $96.00) on shares of QUALCOMM in a research note on Thursday, May 2nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $84.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $79.93.

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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