Logan Capital Management Inc. Reduces Stock Holdings in QUALCOMM Incorporated $QCOM

Logan Capital Management Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 48.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,914 shares of the wireless technology company’s stock after selling 2,790 shares during the quarter. Logan Capital Management Inc.’s holdings in QUALCOMM were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of QUALCOMM by 21.3% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 52,730 shares of the wireless technology company’s stock valued at $8,398,000 after acquiring an additional 9,276 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of QUALCOMM by 20.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 297,334 shares of the wireless technology company’s stock valued at $47,353,000 after acquiring an additional 50,200 shares during the last quarter. Advisory Alpha LLC boosted its stake in shares of QUALCOMM by 7.4% during the second quarter. Advisory Alpha LLC now owns 5,254 shares of the wireless technology company’s stock valued at $837,000 after acquiring an additional 363 shares during the last quarter. Rossby Financial LCC boosted its stake in shares of QUALCOMM by 4.9% during the second quarter. Rossby Financial LCC now owns 1,824 shares of the wireless technology company’s stock valued at $290,000 after acquiring an additional 86 shares during the last quarter. Finally, Lipe & Dalton boosted its stake in shares of QUALCOMM by 4.0% during the second quarter. Lipe & Dalton now owns 10,460 shares of the wireless technology company’s stock valued at $1,666,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCOM. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Citigroup increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday. Arete Research set a $200.00 price objective on QUALCOMM in a research note on Tuesday, August 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Tuesday. Finally, Susquehanna increased their price objective on QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $183.95.

QUALCOMM Stock Down 3.5%

Shares of NASDAQ:QCOM opened at $181.03 on Wednesday. The stock’s 50-day moving average price is $164.47 and its two-hundred day moving average price is $155.83. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $205.95. The firm has a market cap of $195.33 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.72 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company earned $2.33 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. On average, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 34.33%.

Insider Buying and Selling

In other news, CAO Patricia Y. Grech sold 273 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the transaction, the chief accounting officer directly owned 404 shares in the company, valued at $65,213.68. This trade represents a 40.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 791 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the transaction, the chief accounting officer owned 1,106 shares in the company, valued at approximately $171,230.92. This trade represents a 41.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 168,102 shares of company stock worth $27,706,855. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.