Ironsides Asset Advisors LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 26.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,921 shares of the wireless technology company’s stock after selling 7,500 shares during the period. QUALCOMM accounts for 0.5% of Ironsides Asset Advisors LLC’s portfolio, making the stock its 28th biggest position. Ironsides Asset Advisors LLC’s holdings in QUALCOMM were worth $1,155,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of QCOM. Baupost Group LLC MA bought a new position in shares of QUALCOMM during the first quarter worth about $299,085,000. Nordea Investment Management AB grew its position in shares of QUALCOMM by 589.4% during the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after acquiring an additional 5,054,642 shares during the last quarter. Schroder Investment Management Group grew its position in shares of QUALCOMM by 30.8% during the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock worth $375,369,000 after acquiring an additional 1,544,792 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of QUALCOMM during the second quarter worth about $82,556,000. Finally, Pictet Asset Management Ltd. grew its position in shares of QUALCOMM by 73.7% during the first quarter. Pictet Asset Management Ltd. now owns 3,152,908 shares of the wireless technology company’s stock worth $180,788,000 after acquiring an additional 1,337,883 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 5,810 shares of company stock worth $301,596 over the last three months. 0.24% of the stock is owned by insiders.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 53.39 on Tuesday. The firm has a market cap of $78.81 billion, a P/E ratio of 20.45 and a beta of 1.28. The firm’s 50-day moving average price is $51.92 and its 200 day moving average price is $54.12. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $71.62.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is presently 87.36%.
QCOM has been the subject of several recent research reports. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. William Blair restated a “market perform” rating on shares of QUALCOMM in a research report on Tuesday, September 5th. Northland Securities upgraded shares of QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target for the company in a research report on Friday, September 15th. J P Morgan Chase & Co restated an “overweight” rating on shares of QUALCOMM in a research report on Wednesday, September 6th. Finally, Deutsche Bank AG lowered their price target on shares of QUALCOMM from $62.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and an average price target of $63.80.
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QUALCOMM Company 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.
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