Clifford Swan Investment Counsel LLC Sells 2,890 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Clifford Swan Investment Counsel LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,852 shares of the wireless technology company’s stock after selling 2,890 shares during the quarter. QUALCOMM comprises approximately 1.1% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 19th largest position. Clifford Swan Investment Counsel LLC’s holdings in QUALCOMM were worth $23,596,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in QCOM. Fairfield Bush & CO. boosted its position in shares of QUALCOMM by 1.3% in the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after purchasing an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in QUALCOMM by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after acquiring an additional 245,335 shares during the last quarter. Merit Financial Group LLC raised its holdings in QUALCOMM by 25.2% in the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after acquiring an additional 555 shares during the last quarter. NewEdge Advisors LLC raised its holdings in QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after acquiring an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in QUALCOMM by 30.4% in the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after acquiring an additional 79,827 shares during the last quarter. 70.87% of the stock is owned by institutional investors.

QUALCOMM Price Performance

QUALCOMM stock traded down $1.32 during mid-day trading on Wednesday, hitting $129.38. The stock had a trading volume of 408,820 shares, compared to its average volume of 8,229,695. The firm has a market capitalization of $144.54 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.95 and a beta of 1.23. The company has a current ratio of 1.75, a quick ratio of 1.21 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average is $118.39 and its 200 day moving average is $126.00. QUALCOMM Incorporated has a one year low of $101.93 and a one year high of $192.10.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its earnings results on Wednesday, November 2nd. The wireless technology company reported $2.74 earnings per share for the quarter, hitting the consensus estimate of $2.74. QUALCOMM had a net margin of 29.27% and a return on equity of 86.71%. The company had revenue of $11.40 billion during the quarter, compared to the consensus estimate of $11.38 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 8.81 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 2nd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, March 1st. QUALCOMM’s dividend payout ratio (DPR) is presently 26.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HSBC assumed coverage on shares of QUALCOMM in a report on Monday, October 24th. They issued a “buy” rating and a $180.00 price objective for the company. Canaccord Genuity Group decreased their price objective on shares of QUALCOMM from $225.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $150.00 in a report on Thursday, November 3rd. KeyCorp decreased their target price on shares of QUALCOMM from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of QUALCOMM from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.46.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 26,427 shares of the stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the completion of the transaction, the insider now owns 51,179 shares of the company’s stock, valued at approximately $6,260,727.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Erin L. Polek sold 2,894 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $121.10, for a total transaction of $350,463.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 26,427 shares of the company’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the sale, the insider now owns 51,179 shares in the company, valued at $6,260,727.07. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

QUALCOMM Company Profile

(Get Rating)

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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