QUALCOMM, Inc. (QCOM) Position Boosted by Davis R M Inc.

Davis R M Inc. boosted its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 321,300 shares of the wireless technology company’s stock after buying an additional 4,177 shares during the quarter. Davis R M Inc.’s holdings in QUALCOMM were worth $23,143,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of QCOM. Bank of New York Mellon Corp increased its holdings in QUALCOMM by 13.4% in the second quarter. Bank of New York Mellon Corp now owns 20,853,688 shares of the wireless technology company’s stock valued at $1,170,308,000 after buying an additional 2,463,511 shares during the last quarter. Millennium Management LLC increased its holdings in QUALCOMM by 121.1% in the second quarter. Millennium Management LLC now owns 3,254,918 shares of the wireless technology company’s stock valued at $182,666,000 after buying an additional 1,782,585 shares during the last quarter. Putnam Investments LLC increased its holdings in QUALCOMM by 128.4% in the second quarter. Putnam Investments LLC now owns 2,506,811 shares of the wireless technology company’s stock valued at $140,682,000 after buying an additional 1,409,034 shares during the last quarter. Waddell & Reed Financial Inc. increased its holdings in QUALCOMM by 18.8% in the second quarter. Waddell & Reed Financial Inc. now owns 5,029,933 shares of the wireless technology company’s stock valued at $282,280,000 after buying an additional 794,924 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in QUALCOMM by 340.5% in the second quarter. Macquarie Group Ltd. now owns 829,503 shares of the wireless technology company’s stock valued at $46,551,000 after buying an additional 641,192 shares during the last quarter. 77.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of QCOM opened at $65.15 on Friday. QUALCOMM, Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $76.50. The stock has a market cap of $105.82 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.12 and a beta of 1.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.73 and a quick ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.30. QUALCOMM had a negative net margin of 18.41% and a positive return on equity of 19.06%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that QUALCOMM, Inc. will post 3.12 EPS for the current year.

QUALCOMM announced that its Board of Directors has approved a share buyback plan on Thursday, July 26th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the wireless technology company to reacquire up to 34.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Several brokerages have issued reports on QCOM. Royal Bank of Canada raised their price objective on QUALCOMM to $77.00 and gave the stock an “outperform” rating in a report on Friday, September 7th. Canaccord Genuity dropped their price objective on QUALCOMM from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. BidaskClub raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. ValuEngine raised QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Finally, Nomura raised their price objective on QUALCOMM from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and an average price target of $71.12.

In other news, EVP Alexander H. Rogers sold 854 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $72.18, for a total transaction of $61,641.72. Following the completion of the sale, the executive vice president now owns 5,197 shares in the company, valued at $375,119.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alexander H. Rogers sold 828 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $63.40, for a total transaction of $52,495.20. Following the sale, the executive vice president now owns 7,170 shares of the company’s stock, valued at approximately $454,578. The disclosure for this sale can be found here. Insiders have sold 91,613 shares of company stock valued at $6,300,408 in the last quarter. Insiders own 0.24% of the company’s stock.

QUALCOMM Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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