World Asset Management Inc Sells 2,397 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

World Asset Management Inc cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,426 shares of the wireless technology company’s stock after selling 2,397 shares during the period. World Asset Management Inc’s holdings in QUALCOMM were worth $4,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brilliance Asset Management Ltd. lifted its holdings in shares of QUALCOMM by 471.5% in the first quarter. Brilliance Asset Management Ltd. now owns 6,022,915 shares of the wireless technology company’s stock valued at $798,578,000 after purchasing an additional 4,969,053 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of QUALCOMM by 4.5% in the first quarter. BlackRock Inc. now owns 83,599,923 shares of the wireless technology company’s stock valued at $11,084,513,000 after purchasing an additional 3,600,480 shares in the last quarter. Morgan Stanley lifted its holdings in shares of QUALCOMM by 36.8% in the first quarter. Morgan Stanley now owns 10,330,243 shares of the wireless technology company’s stock valued at $1,369,687,000 after purchasing an additional 2,781,284 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of QUALCOMM by 767.4% in the first quarter. Renaissance Technologies LLC now owns 2,292,160 shares of the wireless technology company’s stock valued at $303,917,000 after purchasing an additional 2,027,900 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of QUALCOMM in the first quarter valued at about $162,231,000. Hedge funds and other institutional investors own 71.77% of the company’s stock.

A number of equities analysts have weighed in on the company. KeyCorp boosted their price target on QUALCOMM from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th. Mizuho boosted their price target on QUALCOMM from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Susquehanna restated a “hold” rating and set a $157.00 price objective on shares of QUALCOMM in a report on Thursday, July 29th. Cowen boosted their price objective on QUALCOMM from $180.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, Morgan Stanley boosted their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Buy” and a consensus target price of $167.81.

NASDAQ QCOM traded down $3.08 during trading hours on Wednesday, hitting $138.06. The company’s stock had a trading volume of 279,313 shares, compared to its average volume of 8,847,491. The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $155.73 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.29. QUALCOMM Incorporated has a 52 week low of $108.30 and a 52 week high of $167.94. The company’s 50-day simple moving average is $144.06 and its two-hundred day simple moving average is $137.84.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 28th. The wireless technology company reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.24. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.58 billion. QUALCOMM had a net margin of 28.25% and a return on equity of 102.31%. Research analysts anticipate that QUALCOMM Incorporated will post 7.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Thursday, September 2nd will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, September 1st. This represents a $2.72 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s payout ratio is currently 81.44%.

About QUALCOMM

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

Recommended Story: What is the Quick Ratio?

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.