First Manhattan Co. Boosts Holdings in QUALCOMM, Inc. (QCOM)

First Manhattan Co. raised its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 116.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,302 shares of the wireless technology company’s stock after purchasing an additional 1,775 shares during the period. First Manhattan Co.’s holdings in QUALCOMM were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after buying an additional 1,537,645 shares in the last quarter. FMR LLC boosted its holdings in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after buying an additional 11,387,347 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of QUALCOMM by 2.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock valued at $1,330,946,000 after buying an additional 498,324 shares in the last quarter. Capital International Investors boosted its holdings in shares of QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after buying an additional 6,322,645 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after buying an additional 499,531 shares in the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM, Inc. (NASDAQ QCOM) opened at $63.99 on Wednesday. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. The stock has a market cap of $94,730.00, a P/E ratio of -26.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.38.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the firm posted $1.19 EPS. QUALCOMM’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is presently -93.06%.

QCOM has been the topic of a number of recent analyst reports. Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Friday, October 27th. BMO Capital Markets raised their price target on shares of QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. Canaccord Genuity raised their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Sanford C. Bernstein lifted their target price on shares of QUALCOMM from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $68.25.

In other news, EVP Alexander H. Rogers sold 713 shares of QUALCOMM stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the transaction, the executive vice president now directly owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the transaction, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at $2,810,050. The disclosure for this sale can be found here. Insiders have sold a total of 45,506 shares of company stock valued at $2,977,673 over the last three months. 0.24% of the stock is currently owned by insiders.

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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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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