Bennicas & Associates Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,825 shares of the wireless technology company’s stock after selling 200 shares during the quarter. Bennicas & Associates Inc.’s holdings in QUALCOMM were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QCOM. Vanguard Group Inc. raised its position in shares of QUALCOMM by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 104,166,567 shares of the wireless technology company’s stock valued at $9,501,032,000 after buying an additional 5,845,242 shares in the last quarter. FIL Ltd grew its holdings in QUALCOMM by 380.4% during the 2nd quarter. FIL Ltd now owns 2,805,760 shares of the wireless technology company’s stock valued at $255,913,000 after purchasing an additional 2,221,716 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in QUALCOMM by 24.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,535,939 shares of the wireless technology company’s stock valued at $869,773,000 after purchasing an additional 1,870,075 shares during the last quarter. Public Investment Fund bought a new position in QUALCOMM during the 1st quarter valued at about $77,798,000. Finally, Schroder Investment Management Group grew its holdings in QUALCOMM by 159.5% during the 1st quarter. Schroder Investment Management Group now owns 1,765,685 shares of the wireless technology company’s stock valued at $125,275,000 after purchasing an additional 1,085,233 shares during the last quarter. Institutional investors and hedge funds own 74.79% of the company’s stock.

QCOM has been the topic of several analyst reports. Rosenblatt Securities upped their price target on shares of QUALCOMM from $105.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company upgraded shares of QUALCOMM from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $90.00 to $120.00 in a report on Tuesday, September 1st. Canaccord Genuity upped their price target on shares of QUALCOMM from $137.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Citigroup upped their target price on shares of QUALCOMM from $108.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Finally, Exane BNP Paribas upgraded shares of QUALCOMM from an “underperform” rating to an “outperform” rating and set a $140.00 target price on the stock in a research note on Friday, September 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM currently has a consensus rating of “Buy” and a consensus price target of $121.58.

In other QUALCOMM news, President Cristiano R. Amon sold 20,530 shares of the firm’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $130.60, for a total value of $2,681,218.00. Following the completion of the transaction, the president now owns 50,753 shares of the company’s stock, valued at $6,628,341.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Donald J. Rosenberg sold 10,720 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $118.27, for a total transaction of $1,267,854.40. Following the completion of the transaction, the executive vice president now directly owns 9,292 shares of the company’s stock, valued at approximately $1,098,964.84. The disclosure for this sale can be found here. Insiders have sold 43,720 shares of company stock valued at $5,348,451 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

NASDAQ:QCOM opened at $129.03 on Friday. QUALCOMM Incorporated has a 52 week low of $58.00 and a 52 week high of $132.42. The firm has a 50 day moving average of $117.35 and a 200 day moving average of $95.14. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The stock has a market capitalization of $145.58 billion, a price-to-earnings ratio of 54.44, a PEG ratio of 1.79 and a beta of 1.36.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. QUALCOMM’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts expect that QUALCOMM Incorporated will post 3.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.65 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s payout ratio is 91.55%.

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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