Franklin Street Advisors Inc. NC Sells 3,346 Shares of QUALCOMM, Inc. (QCOM)

Franklin Street Advisors Inc. NC trimmed its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 29.0% in the 4th quarter, HoldingsChannel reports. The fund owned 8,201 shares of the wireless technology company’s stock after selling 3,346 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in QUALCOMM were worth $525,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. WIM Asset Management HK Ltd bought a new stake in QUALCOMM in the fourth quarter worth approximately $15,787,000. DnB Asset Management AS grew its position in QUALCOMM by 266.7% in the fourth quarter. DnB Asset Management AS now owns 705,216 shares of the wireless technology company’s stock worth $45,148,000 after acquiring an additional 512,926 shares in the last quarter. Oak Point Wealth Management bought a new stake in QUALCOMM in the fourth quarter worth approximately $645,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of QUALCOMM in the fourth quarter worth $717,000. Finally, Washington Trust Bank lifted its stake in shares of QUALCOMM by 7.8% in the fourth quarter. Washington Trust Bank now owns 112,347 shares of the wireless technology company’s stock worth $7,193,000 after buying an additional 8,103 shares during the last quarter. 76.16% of the stock is owned by institutional investors.

In other news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 919 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total transaction of $59,110.08. Following the completion of the transaction, the executive vice president now owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,346 shares of company stock valued at $3,499,504. Corporate insiders own 0.17% of the company’s stock.

QCOM has been the subject of a number of analyst reports. Canaccord Genuity boosted their price objective on shares of QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Royal Bank of Canada boosted their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Vetr cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 price objective for the company. in a research note on Monday, November 6th. ValuEngine cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Nomura upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $75.00 in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and an average price target of $68.25.

QUALCOMM, Inc. (QCOM) opened at $63.99 on Friday. The company has a market cap of $94,730.00, a price-to-earnings ratio of -22.61, a P/E/G ratio of 1.94 and a beta of 1.38. QUALCOMM, Inc. has a one year low of $48.92 and a one year high of $69.28. 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 (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The firm had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. equities analysts predict that QUALCOMM, Inc. will post 2.8 earnings per share for the current 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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s payout ratio is currently -80.57%.

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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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