Bray Capital Advisors Has $170,000 Stake in QUALCOMM, Inc. (NASDAQ:QCOM)

Bray Capital Advisors cut its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 70.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,990 shares of the wireless technology company’s stock after selling 7,180 shares during the quarter. Bray Capital Advisors’ holdings in QUALCOMM were worth $170,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in QCOM. Boenning & Scattergood Inc. grew its holdings in shares of QUALCOMM by 3.1% during the fourth quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock valued at $372,000 after buying an additional 197 shares during the last quarter. Evanson Asset Management LLC grew its holdings in shares of QUALCOMM by 4.9% during the fourth quarter. Evanson Asset Management LLC now owns 4,231 shares of the wireless technology company’s stock worth $241,000 after buying an additional 199 shares in the last quarter. Highland Capital Management LLC grew its holdings in shares of QUALCOMM by 0.4% during the fourth quarter. Highland Capital Management LLC now owns 53,274 shares of the wireless technology company’s stock worth $3,032,000 after buying an additional 200 shares in the last quarter. Baystate Wealth Management LLC grew its holdings in shares of QUALCOMM by 13.8% during the fourth quarter. Baystate Wealth Management LLC now owns 1,811 shares of the wireless technology company’s stock worth $100,000 after buying an additional 219 shares in the last quarter. Finally, Camelot Portfolios LLC grew its holdings in shares of QUALCOMM by 1.9% during the fourth quarter. Camelot Portfolios LLC now owns 11,742 shares of the wireless technology company’s stock worth $668,000 after buying an additional 221 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

QCOM traded up $0.81 on Friday, reaching $79.89. The company had a trading volume of 41,621,184 shares, compared to its average volume of 23,868,188. The firm has a market capitalization of $96.69 billion, a PE ratio of 25.04, a P/E/G ratio of 2.59 and a beta of 1.22. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 4.25. QUALCOMM, Inc. has a one year low of $48.56 and a one year high of $82.52.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. QUALCOMM’s revenue was down 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, equities analysts expect that QUALCOMM, Inc. will post 3.14 EPS for the current year.

In other QUALCOMM news, President Cristiano R. Amon sold 13,466 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total value of $807,960.00. Following the completion of the sale, the president now directly owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

A number of research firms have recently commented on QCOM. BidaskClub cut shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Barclays reissued a “buy” rating and set a $70.00 target price on shares of QUALCOMM in a research report on Friday, January 18th. Mizuho reduced their target price on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, January 31st. UBS Group reissued a “neutral” rating and set a $55.00 target price (down from $64.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Finally, ValuEngine cut shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $76.32.

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About QUALCOMM

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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