Suntrust Banks Inc. Trims Stake in QUALCOMM, Inc. (NASDAQ:QCOM)

Suntrust Banks Inc. cut its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,501 shares of the wireless technology company’s stock after selling 18,742 shares during the period. Suntrust Banks Inc.’s holdings in QUALCOMM were worth $8,622,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Lavaca Capital LLC bought a new stake in QUALCOMM during the fourth quarter valued at $25,000. Csenge Advisory Group bought a new stake in QUALCOMM during the third quarter valued at $28,000. Transamerica Financial Advisors Inc. boosted its position in QUALCOMM by 688.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 537 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at $36,000. Finally, Pearl River Capital LLC bought a new stake in QUALCOMM during the fourth quarter valued at $40,000. Institutional investors own 83.69% of the company’s stock.

Shares of QCOM stock traded up $0.23 on Monday, reaching $57.18. 10,098,640 shares of the company were exchanged, compared to its average volume of 14,075,580. The stock has a market capitalization of $68.93 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.77 and a beta of 1.22. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $76.50.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue was down 21.3% on a year-over-year basis. On average, analysts anticipate that QUALCOMM, Inc. will post 3.21 earnings per share for the current fiscal year.

In related news, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now owns 62,301 shares in the company, valued at approximately $3,161,775.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

A number of analysts have commented on QCOM shares. Barclays reaffirmed a “buy” rating and set a $70.00 price target on shares of QUALCOMM in a research report on Friday, January 18th. Raymond James set a $65.00 price target on shares of QUALCOMM and gave the company a “buy” rating in a research report on Saturday, February 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of QUALCOMM in a research report on Thursday, January 31st. BidaskClub raised shares of QUALCOMM from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Bank of America reaffirmed a “neutral” rating and set a $60.00 price target (down previously from $67.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Thirteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.95.

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QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless 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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