Reynders McVeigh Capital Management LLC Has $1.59 Million Position in QUALCOMM, Inc. (QCOM)

Reynders McVeigh Capital Management LLC lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 71.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,758 shares of the wireless technology company’s stock after selling 76,777 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in QUALCOMM were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. NEXT Financial Group Inc boosted its position in QUALCOMM by 29.5% during the 2nd quarter. NEXT Financial Group Inc now owns 18,380 shares of the wireless technology company’s stock worth $1,015,000 after acquiring an additional 4,188 shares during the period. Cullinan Associates Inc. boosted its position in QUALCOMM by 75.4% during the 2nd quarter. Cullinan Associates Inc. now owns 234,505 shares of the wireless technology company’s stock worth $12,949,000 after acquiring an additional 100,822 shares during the period. Trust Co. of Toledo NA OH boosted its position in QUALCOMM by 1.9% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 46,508 shares of the wireless technology company’s stock worth $2,568,000 after acquiring an additional 870 shares during the period. Hollencrest Securities LLC boosted its position in QUALCOMM by 0.9% during the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after acquiring an additional 40 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in QUALCOMM by 1.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 129,182 shares of the wireless technology company’s stock worth $7,132,000 after acquiring an additional 2,240 shares during the period. 76.31% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. BMO Capital Markets lifted their price target on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. Finally, Canaccord Genuity lifted their price target on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.14.

Shares of QUALCOMM, Inc. (NASDAQ QCOM) opened at $68.67 on Tuesday. QUALCOMM, Inc. has a 1-year low of $48.92 and a 1-year high of $69.28. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $100,725.40, a P/E ratio of 41.62, a P/E/G ratio of 1.93 and a beta of 1.39.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 2.19% and a net margin of 2.86%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 EPS. analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is currently 138.18%.

In other QUALCOMM news, EVP Alexander H. Rogers sold 919 shares of QUALCOMM stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the transaction, the executive vice president now directly owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,989 shares of company stock worth $4,678,794. Company insiders own 0.24% of the company’s stock.

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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.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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