QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lowered by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,390 shares of the wireless technology company’s stock after selling 245 shares during the quarter. SevenBridge Financial Group LLC’s holdings in QUALCOMM were worth $953,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. Clean Yield Group acquired a new position in QUALCOMM in the 2nd quarter valued at approximately $29,000. Baillie Gifford & Co. acquired a new position in QUALCOMM in the 2nd quarter valued at approximately $29,000. Disciplined Investments LLC increased its stake in QUALCOMM by 420.0% in the 2nd quarter. Disciplined Investments LLC now owns 234 shares of the wireless technology company’s stock valued at $33,000 after buying an additional 189 shares during the period. Itau Unibanco Holding S.A. acquired a new position in QUALCOMM in the 2nd quarter valued at approximately $34,000. Finally, Cypress Point Wealth Management LLC acquired a new position in QUALCOMM in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 71.66% of the company’s stock.

Shares of QUALCOMM stock traded down $0.23 during mid-day trading on Thursday, reaching $180.71. 7,886,158 shares of the stock were exchanged, compared to its average volume of 9,175,064. The company has a market cap of $202.40 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. The company has a current ratio of 1.68, a quick ratio of 1.41 and a debt-to-equity ratio of 1.38. The firm has a 50-day simple moving average of $143.50 and a 200 day simple moving average of $141.00. QUALCOMM Incorporated has a fifty-two week low of $122.17 and a fifty-two week high of $188.77.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 3rd. The wireless technology company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.49. QUALCOMM had a net margin of 26.94% and a return on equity of 104.16%. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, research analysts predict that QUALCOMM Incorporated will post 9.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Thursday, December 2nd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Wednesday, December 1st. QUALCOMM’s dividend payout ratio (DPR) is currently 34.56%.

QUALCOMM announced that its board has authorized a stock repurchase plan on Tuesday, October 12th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the wireless technology company to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Several research analysts have weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $225.00 price objective (up previously from $200.00) on shares of QUALCOMM in a research note on Thursday, August 12th. KeyCorp increased their price target on shares of QUALCOMM from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 17th. The Goldman Sachs Group upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and increased their price target for the stock from $162.00 to $194.00 in a research note on Thursday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of QUALCOMM from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, November 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Twelve research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $181.50.

In other QUALCOMM news, CAO Erin L. Polek sold 2,847 shares of the firm’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $180.98, for a total value of $515,250.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

QUALCOMM Company Profile

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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