United Bank VA boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 28.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,917 shares of the wireless technology company’s stock after buying an additional 12,602 shares during the period. QUALCOMM comprises approximately 3.4% of United Bank VA’s holdings, making the stock its 16th largest position. United Bank VA’s holdings in QUALCOMM were worth $3,263,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock worth $575,769,000 after buying an additional 352,962 shares during the last quarter. Swiss National Bank boosted its position in QUALCOMM by 27.5% in the first quarter. Swiss National Bank now owns 5,233,165 shares of the wireless technology company’s stock worth $300,070,000 after buying an additional 1,128,700 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in QUALCOMM by 0.7% in the first quarter. UBS Asset Management Americas Inc. now owns 4,508,344 shares of the wireless technology company’s stock worth $258,508,000 after buying an additional 32,884 shares during the last quarter. American Century Companies Inc. boosted its position in QUALCOMM by 25.5% in the first quarter. American Century Companies Inc. now owns 4,229,488 shares of the wireless technology company’s stock worth $242,519,000 after buying an additional 858,845 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in QUALCOMM by 1.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,201,130 shares of the wireless technology company’s stock worth $240,893,000 after buying an additional 58,411 shares during the last quarter. Institutional investors and hedge funds own 76.59% of the company’s stock.

QUALCOMM Incorporated (QCOM) traded down 0.88% during midday trading on Friday, reaching $52.03. The company’s stock had a trading volume of 8,684,669 shares. The stock’s 50-day moving average price is $53.67 and its 200 day moving average price is $55.51. The firm has a market capitalization of $76.80 billion, a PE ratio of 19.93 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $51.05 and a 1-year high of $71.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the company posted $1.16 earnings per share. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM Incorporated will post $4.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.38%. QUALCOMM’s dividend payout ratio (DPR) is presently 87.36%.

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A number of research analysts have recently weighed in on QCOM shares. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Northland Securities cut QUALCOMM from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $75.00 to $62.50 in a research report on Wednesday, June 28th. Finally, Vetr raised QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $62.13 price objective on the stock in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $63.96.

In related news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were 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 at this link. Also, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the transaction, the president now owns 5,855 shares in the company, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,332 shares of company stock worth $2,875,886. Corporate insiders own 0.17% of the company’s stock.

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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