QUALCOMM Incorporated (QCOM) Holdings Cut by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,108 shares of the wireless technology company’s stock after selling 462 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in QUALCOMM were worth $4,479,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Artisan Partners Limited Partnership grew its holdings in shares of QUALCOMM by 9.0% during the 1st quarter. Artisan Partners Limited Partnership now owns 9,444,032 shares of the wireless technology company’s stock valued at $541,521,000 after acquiring an additional 783,394 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of QUALCOMM by 3.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 6,895,262 shares of the wireless technology company’s stock valued at $395,375,000 after acquiring an additional 205,103 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of QUALCOMM by 30.8% during the 1st quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after acquiring an additional 1,544,792 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of QUALCOMM by 589.4% during the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after acquiring an additional 5,054,642 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of QUALCOMM by 27.5% during the 1st quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock valued at $300,070,000 after acquiring an additional 1,128,700 shares in the last quarter. 76.92% of the stock is currently owned by institutional investors.

Shares of QUALCOMM Incorporated (QCOM) opened at 52.49 on Monday. The company has a 50-day moving average of $51.68 and a 200-day moving average of $54.47. The company has a market capitalization of $77.48 billion, a PE ratio of 20.10 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th were paid a $0.57 dividend. The ex-dividend date of this dividend was Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.34%. QUALCOMM’s payout ratio is currently 87.36%.

Several equities analysts have recently commented on QCOM shares. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Northland Securities cut shares of QUALCOMM from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $75.00 to $62.50 in a report on Wednesday, June 28th. Finally, Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price target on the stock in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $63.60.

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In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction on Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 5,810 shares of company stock worth $301,596 over the last quarter. Company insiders own 0.24% of the company’s stock.

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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