Xact Kapitalforvaltning AB lessened its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 7.3% in the first quarter, HoldingsChannel.com reports. The fund owned 242,650 shares of the wireless technology company’s stock after selling 19,030 shares during the period. Xact Kapitalforvaltning AB’s holdings in QUALCOMM were worth $13,838,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. ACG Wealth lifted its holdings in shares of QUALCOMM by 2.6% during the first quarter. ACG Wealth now owns 7,749 shares of the wireless technology company’s stock valued at $442,000 after purchasing an additional 197 shares during the last quarter. Conning Inc. lifted its holdings in shares of QUALCOMM by 5.7% during the first quarter. Conning Inc. now owns 826,550 shares of the wireless technology company’s stock valued at $47,138,000 after purchasing an additional 44,907 shares during the last quarter. World Asset Management Inc lifted its holdings in shares of QUALCOMM by 18.5% during the first quarter. World Asset Management Inc now owns 91,562 shares of the wireless technology company’s stock valued at $5,222,000 after purchasing an additional 14,322 shares during the last quarter. Epstein & White Financial LLC raised its position in QUALCOMM by 34.4% during the fourth quarter. Epstein & White Financial LLC now owns 9,752 shares of the wireless technology company’s stock valued at $555,000 after buying an additional 2,495 shares during the period. Finally, Regent Investment Management LLC raised its position in QUALCOMM by 12.5% during the first quarter. Regent Investment Management LLC now owns 4,492 shares of the wireless technology company’s stock valued at $256,000 after buying an additional 500 shares during the period. Institutional investors own 76.38% of the company’s stock.

NASDAQ:QCOM traded down $1.46 during mid-day trading on Wednesday, hitting $69.78. 411,456 shares of the company’s stock traded hands, compared to its average volume of 18,790,480. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $90.34. The company has a market cap of $83.51 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.52 and a beta of 1.59. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. Analysts anticipate that QUALCOMM, Inc. will post 3.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be given a $0.62 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.55%. QUALCOMM’s dividend payout ratio is currently 77.74%.

In other QUALCOMM news, Director Clark T. Jr. Randt sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.58, for a total value of $179,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. Insiders sold a total of 949,832 shares of company stock valued at $37,443,538 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

Several research analysts recently weighed in on the company. Zacks Investment Research raised QUALCOMM from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, February 13th. Barclays increased their price objective on QUALCOMM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. initiated coverage on QUALCOMM in a report on Wednesday, March 27th. They set a “neutral” rating and a $54.00 price objective on the stock. Raymond James increased their price objective on QUALCOMM from $65.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Canaccord Genuity reissued a “buy” rating and set a $89.00 price objective (up previously from $75.00) on shares of QUALCOMM in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Buy” and an average target price of $79.68.

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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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