Monetary Management Group Inc. Decreases Holdings in QUALCOMM Incorporated (QCOM)

Monetary Management Group Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 69.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,325 shares of the wireless technology company’s stock after selling 35,225 shares during the quarter. Monetary Management Group Inc.’s holdings in QUALCOMM were worth $846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC lifted its position in shares of QUALCOMM by 76.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 298,573 shares of the wireless technology company’s stock valued at $17,120,000 after acquiring an additional 128,983 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of QUALCOMM by 11.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 85,014 shares of the wireless technology company’s stock valued at $4,874,000 after acquiring an additional 8,728 shares during the period. Marietta Wealth Management LLC lifted its position in shares of QUALCOMM by 23.3% during the 1st quarter. Marietta Wealth Management LLC now owns 47,995 shares of the wireless technology company’s stock valued at $2,752,000 after acquiring an additional 9,059 shares during the period. Tiedemann Wealth Management LLC lifted its position in shares of QUALCOMM by 57.4% during the 1st quarter. Tiedemann Wealth Management LLC now owns 82,787 shares of the wireless technology company’s stock valued at $4,747,000 after acquiring an additional 30,198 shares during the period. Finally, First National Trust Co. lifted its position in shares of QUALCOMM by 32.7% during the 1st quarter. First National Trust Co. now owns 92,756 shares of the wireless technology company’s stock valued at $5,319,000 after acquiring an additional 22,845 shares during the period. 76.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) opened at $64.56 on Tuesday. QUALCOMM Incorporated has a one year low of $48.92 and a one year high of $70.24. The company has a market capitalization of $96,543.06, a P/E ratio of 17.33, a P/E/G ratio of 1.83 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. analysts forecast that QUALCOMM Incorporated will post 3.07 EPS for the current fiscal year.

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 paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.53%. QUALCOMM’s dividend payout ratio is currently 138.18%.

In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The disclosure for this sale can be found here. Insiders have sold 29,427 shares of company stock valued at $1,827,995 in the last ninety days. 0.24% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on QCOM. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, November 27th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Stifel Nicolaus downgraded QUALCOMM from a “buy” rating to a “hold” rating and increased their target price for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. Finally, Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $66.02.

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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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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