Dimensional Fund Advisors LP lessened its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 11,681,992 shares of the wireless technology company’s stock after selling 333,627 shares during the period. Dimensional Fund Advisors LP’s holdings in QUALCOMM were worth $647,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. AMG Funds LLC grew its stake in shares of QUALCOMM by 29.2% during the first quarter. AMG Funds LLC now owns 32,635 shares of the wireless technology company’s stock worth $1,808,000 after buying an additional 7,368 shares during the last quarter. 10 15 Associates Inc. grew its stake in shares of QUALCOMM by 2.4% during the first quarter. 10 15 Associates Inc. now owns 210,441 shares of the wireless technology company’s stock worth $11,661,000 after buying an additional 5,009 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of QUALCOMM by 9.5% during the first quarter. Pinnacle Associates Ltd. now owns 56,482 shares of the wireless technology company’s stock worth $3,130,000 after buying an additional 4,881 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in shares of QUALCOMM by 115.2% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 3,250 shares of the wireless technology company’s stock worth $180,000 after buying an additional 1,740 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of QUALCOMM by 10.5% during the first quarter. IFM Investors Pty Ltd now owns 45,676 shares of the wireless technology company’s stock worth $2,531,000 after buying an additional 4,349 shares during the last quarter. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP James H. Thompson sold 50,126 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the transaction, the executive vice president now owns 136,482 shares in the company, valued at $8,551,962.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 663 shares of the company’s stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $56.59, for a total transaction of $37,519.17. Following the transaction, the executive vice president now owns 8,794 shares in the company, valued at approximately $497,652.46. The disclosure for this sale can be found here. Insiders have sold 80,383 shares of company stock worth $4,762,616 in the last ninety days. Insiders own 0.17% of the company’s stock.

A number of analysts have weighed in on the stock. KeyCorp boosted their target price on shares of QUALCOMM from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Northland Securities reaffirmed a “buy” rating and set a $75.00 target price on shares of QUALCOMM in a research note on Thursday, February 1st. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $76.42 target price on the stock. in a research note on Thursday, February 1st. Royal Bank of Canada boosted their target price on shares of QUALCOMM from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Finally, ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.67.

Shares of QCOM opened at $59.96 on Monday. The company has a current ratio of 3.60, a quick ratio of 3.46 and a debt-to-equity ratio of 0.81. The firm has a market cap of $88.91 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.93 and a beta of 1.47. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $69.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 25th. The wireless technology company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.10. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.21 billion. QUALCOMM had a negative net margin of 20.16% and a positive return on equity of 16.48%. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 earnings per share. sell-side analysts predict that QUALCOMM, Inc. will post 2.71 EPS for the current year.

QUALCOMM declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 9th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the wireless technology company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 29th. This represents a $2.48 dividend on an annualized basis and a yield of 4.14%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.57. QUALCOMM’s dividend payout ratio is 60.32%.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.