Mosaic Family Wealth LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 47.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,125 shares of the wireless technology company’s stock after selling 3,700 shares during the period. Mosaic Family Wealth LLC’s holdings in QUALCOMM were worth $237,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Guardian Capital LP boosted its position in QUALCOMM by 23.6% in the fourth quarter. Guardian Capital LP now owns 15,026 shares of the wireless technology company’s stock worth $980,000 after buying an additional 2,871 shares during the period. Fred Alger Management Inc. boosted its position in QUALCOMM by 120.7% in the fourth quarter. Fred Alger Management Inc. now owns 1,425,214 shares of the wireless technology company’s stock worth $92,924,000 after buying an additional 779,587 shares during the period. Girard Securities Inc. boosted its position in QUALCOMM by 7.7% in the fourth quarter. Girard Securities Inc. now owns 5,812 shares of the wireless technology company’s stock worth $379,000 after buying an additional 414 shares during the period. GSA Capital Partners LLP boosted its position in QUALCOMM by 572.8% in the fourth quarter. GSA Capital Partners LLP now owns 114,706 shares of the wireless technology company’s stock worth $7,479,000 after buying an additional 97,656 shares during the period. Finally, Crosslink Capital Inc. bought a new position in QUALCOMM during the fourth quarter worth approximately $6,023,000. 76.73% of the stock is owned by institutional investors and hedge funds.
QUALCOMM Incorporated (NASDAQ:QCOM) opened at 53.22 on Tuesday. The company has a market capitalization of $78.56 billion, a PE ratio of 20.38 and a beta of 1.30. QUALCOMM Incorporated has a 52 week low of $51.05 and a 52 week high of $71.62. The firm’s 50-day moving average price is $56.27 and its 200 day moving average price is $56.58.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was down 11.1% on a year-over-year basis. Equities research analysts expect that QUALCOMM Incorporated will post $4.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be paid a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.28%. QUALCOMM’s dividend payout ratio is currently 87.36%.
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A number of research analysts have recently commented on QCOM shares. Macquarie started coverage on shares of QUALCOMM in a report on Thursday, March 30th. They issued a “neutral” rating and a $60.00 target price for the company. Stifel Nicolaus dropped their target price on shares of QUALCOMM from $65.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, March 30th. Royal Bank Of Canada reissued a “hold” rating and issued a $60.00 target price on shares of QUALCOMM in a report on Monday, April 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $78.00 target price on shares of QUALCOMM in a report on Tuesday, April 4th. Finally, Zacks Investment Research cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $64.32.
In other news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Derek K. Aberle sold 22,251 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the sale, the president now directly owns 28,959 shares in the company, valued at $1,667,748.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,473 shares of company stock worth $3,526,917. Insiders own 0.24% of the company’s stock.
About QUALCOMM
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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