Sciencast Management LP Sells 8,299 Shares of QUALCOMM Incorporated (QCOM)

Sciencast Management LP cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 60.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,507 shares of the wireless technology company’s stock after selling 8,299 shares during the period. Sciencast Management LP’s holdings in QUALCOMM were worth $304,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. United Asset Strategies Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter valued at $5,249,000. Stephens Inc. AR grew its stake in shares of QUALCOMM by 10.8% in the 2nd quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock worth $6,377,000 after acquiring an additional 11,232 shares in the last quarter. Stifel Financial Corp grew its stake in shares of QUALCOMM by 47.4% in the 1st quarter. Stifel Financial Corp now owns 2,932,964 shares of the wireless technology company’s stock worth $168,002,000 after acquiring an additional 943,026 shares in the last quarter. Private Asset Management Inc. grew its stake in shares of QUALCOMM by 0.5% in the 2nd quarter. Private Asset Management Inc. now owns 736,973 shares of the wireless technology company’s stock worth $40,696,000 after acquiring an additional 4,028 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of QUALCOMM by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock worth $257,798,000 after acquiring an additional 160,226 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.

In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,427 shares of company stock worth $1,827,995. Insiders own 0.24% of the company’s stock.

Several research firms have recently issued reports on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Monday, November 27th. Stifel Nicolaus lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and upped their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, November 28th. Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Royal Bank Of Canada upped their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and a consensus price target of $66.02.

Shares of QUALCOMM Incorporated (QCOM) opened at $64.69 on Wednesday. The company has a market cap of $95,172.09, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.39. QUALCOMM Incorporated has a fifty-two week low of $48.92 and a fifty-two week high of $70.24. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. equities research analysts anticipate that QUALCOMM Incorporated will post 3.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.

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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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