Whittier Trust Co. Raises Stock Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Whittier Trust Co. boosted its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,824 shares of the wireless technology company’s stock after buying an additional 1,918 shares during the period. Whittier Trust Co.’s holdings in QUALCOMM were worth $6,527,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Manchester Financial Inc. purchased a new stake in shares of QUALCOMM in the second quarter worth approximately $91,000. Asset Dedication LLC raised its holdings in shares of QUALCOMM by 9.0% in the second quarter. Asset Dedication LLC now owns 3,523 shares of the wireless technology company’s stock worth $266,000 after buying an additional 291 shares during the period. Clear Harbor Asset Management LLC raised its holdings in shares of QUALCOMM by 420.9% in the second quarter. Clear Harbor Asset Management LLC now owns 28,006 shares of the wireless technology company’s stock worth $2,130,000 after buying an additional 22,630 shares during the period. Perella Weinberg Partners Capital Management LP purchased a new stake in shares of QUALCOMM in the second quarter worth approximately $9,503,000. Finally, Strategic Advisors LLC purchased a new stake in shares of QUALCOMM in the second quarter worth approximately $222,000. 76.16% of the stock is owned by institutional investors.

QCOM traded down $0.05 during trading on Friday, hitting $71.15. 12,648,805 shares of the stock were exchanged, compared to its average volume of 10,592,839. The stock has a 50 day moving average price of $74.44. The firm has a market capitalization of $88.94 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.12 billion. QUALCOMM had a return on equity of 138.82% and a net margin of 13.41%. QUALCOMM’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. As a group, equities analysts forecast that QUALCOMM, Inc. will post 3.31 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.62 per share. The ex-dividend date is Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.49%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

Several equities research analysts have recently weighed in on QCOM shares. Sanford C. Bernstein set a $60.00 price target on QUALCOMM and gave the stock a “hold” rating in a report on Wednesday, April 17th. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Raymond James upgraded QUALCOMM from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $85.00 to $115.00 in a report on Thursday, May 2nd. DZ Bank reiterated a “sell” rating on shares of QUALCOMM in a report on Friday. Finally, Daiwa Capital Markets assumed coverage on QUALCOMM in a report on Thursday, July 18th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $79.93.

In other QUALCOMM news, EVP Alexander H. Rogers sold 20,862 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $88.43, for a total transaction of $1,844,826.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald J. Rosenberg sold 11,050 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $84.68, for a total value of $935,714.00. Following the sale, the executive vice president now directly owns 7,141 shares in the company, valued at approximately $604,699.88. The disclosure for this sale can be found here. Insiders have sold a total of 61,931 shares of company stock worth $5,334,769 in the last ninety days. Insiders own 0.11% of the company’s stock.

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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