Penn Davis Mcfarland Inc. Decreases Position in QUALCOMM, Inc. (QCOM)

Penn Davis Mcfarland Inc. cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 473,096 shares of the wireless technology company’s stock after selling 4,262 shares during the quarter. QUALCOMM accounts for about 8.9% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its largest position. Penn Davis Mcfarland Inc.’s holdings in QUALCOMM were worth $30,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in QCOM. Vanguard Group Inc. grew its holdings in QUALCOMM by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after acquiring an additional 1,537,645 shares during the last quarter. FMR LLC grew its holdings in QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after acquiring an additional 11,387,347 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in QUALCOMM by 2.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after acquiring an additional 498,324 shares during the last quarter. Capital International Investors grew its holdings in QUALCOMM by 41.8% during the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after acquiring an additional 6,322,645 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in QUALCOMM by 2.6% during the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after acquiring an additional 499,531 shares during the last quarter. 75.68% of the stock is currently owned by institutional investors.

QUALCOMM, Inc. (NASDAQ:QCOM) opened at $64.85 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. QUALCOMM, Inc. has a 1 year low of $48.92 and a 1 year high of $69.28. The stock has a market cap of $96,000.00, a price-to-earnings ratio of -26.47, a P/E/G ratio of 2.02 and a beta of 1.38.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter in the previous year, the company earned $1.19 EPS. QUALCOMM’s quarterly revenue was up 1.7% compared to the same quarter last year. research analysts expect that QUALCOMM, Inc. will post 2.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.52%. QUALCOMM’s payout ratio is presently -93.06%.

In related news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. Insiders have sold a total of 53,346 shares of company stock worth $3,499,504 in the last quarter. 0.17% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. UBS Group reduced their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, November 6th. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Wells Fargo & Co lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a report on Monday, November 6th. Mizuho reissued a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. Finally, Royal Bank of Canada raised shares of QUALCOMM from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $70.00 in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. QUALCOMM currently has an average rating of “Hold” and an average target price of $68.25.

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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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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