QUALCOMM Incorporated (QCOM) Position Increased by Needelman Asset Management Inc.

Needelman Asset Management Inc. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,805 shares of the wireless technology company’s stock after buying an additional 20 shares during the period. QUALCOMM comprises 2.4% of Needelman Asset Management Inc.’s holdings, making the stock its 22nd largest position. Needelman Asset Management Inc.’s holdings in QUALCOMM were worth $928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC increased its position in shares of QUALCOMM by 10.8% in the 1st quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares in the last quarter. Welch Group LLC increased its position in shares of QUALCOMM by 2.3% in the 1st quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock valued at $174,000 after buying an additional 69 shares in the last quarter. Commonwealth Financial Services LLC increased its position in shares of QUALCOMM by 499.5% in the 1st quarter. Commonwealth Financial Services LLC now owns 3,627 shares of the wireless technology company’s stock valued at $205,000 after buying an additional 3,022 shares in the last quarter. American National Bank increased its position in shares of QUALCOMM by 28.7% in the 2nd quarter. American National Bank now owns 3,637 shares of the wireless technology company’s stock valued at $201,000 after buying an additional 812 shares in the last quarter. Finally, Schnieders Capital Management LLC bought a new stake in shares of QUALCOMM in the 1st quarter valued at $226,000. Institutional investors and hedge funds own 77.03% of the company’s stock.

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In related news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now owns 5,855 shares in the company, valued at $324,249.90. The disclosure for this sale can be found here. Insiders have sold a total of 28,995 shares of company stock worth $1,587,390 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Shares of QUALCOMM Incorporated (QCOM) traded up 1.38% on Friday, hitting $52.19. 13,177,887 shares of the stock traded hands. QUALCOMM Incorporated has a 52 week low of $48.92 and a 52 week high of $71.62. The stock has a 50 day moving average price of $52.11 and a 200-day moving average price of $55.07. The stock has a market cap of $77.04 billion, a price-to-earnings ratio of 19.99 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. QUALCOMM’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, equities research analysts forecast that QUALCOMM Incorporated will post $4.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.

A number of analysts recently commented on QCOM shares. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research report on Sunday, May 21st. J P Morgan Chase & Co upgraded shares of QUALCOMM from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $68.00 in a research report on Monday, May 22nd. Vetr cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price objective for the company. in a research report on Monday, May 22nd. Stifel Nicolaus upped their price objective on shares of QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 26th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $67.00 price objective (up previously from $61.00) on shares of QUALCOMM in a research report on Sunday, June 18th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.96.

QUALCOMM Profile

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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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