US Bancorp DE decreased its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,139,283 shares of the wireless technology company’s stock after selling 65,125 shares during the period. US Bancorp DE’s holdings in QUALCOMM were worth $86,666,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in QCOM. Jennison Associates LLC grew its holdings in shares of QUALCOMM by 996.4% in the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after buying an additional 13,893,238 shares during the period. FIL Ltd grew its holdings in shares of QUALCOMM by 179.2% in the 1st quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock valued at $272,050,000 after buying an additional 3,061,598 shares during the period. Prudential Financial Inc. grew its holdings in shares of QUALCOMM by 203.9% in the 2nd quarter. Prudential Financial Inc. now owns 3,393,342 shares of the wireless technology company’s stock valued at $258,131,000 after buying an additional 2,276,723 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of QUALCOMM by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 25,383,855 shares of the wireless technology company’s stock valued at $1,930,950,000 after buying an additional 2,035,743 shares during the period. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of QUALCOMM by 7,630.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,290,065 shares of the wireless technology company’s stock valued at $129,006,000 after buying an additional 1,273,377 shares during the period. 78.73% of the stock is owned by institutional investors.

QCOM has been the topic of several research reports. Morgan Stanley set a $89.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research report on Wednesday, August 21st. BidaskClub raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th. Barclays cut shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $90.00 to $75.00 in a research report on Thursday, July 18th. Mizuho set a $68.00 price objective on shares of QUALCOMM and gave the company a “hold” rating in a research report on Monday, August 26th. Finally, Bank of America cut their price objective on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $79.68.

In other news, SVP Erin L. Polek sold 1,478 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the transaction, the senior vice president now directly owns 1,386 shares in the company, valued at approximately $97,518.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark D. Mclaughlin acquired 2,705 shares of the stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $73.84 per share, for a total transaction of $199,737.20. Following the completion of the purchase, the director now directly owns 5,220 shares in the company, valued at $385,444.80. The disclosure for this purchase can be found here. Insiders own 0.11% of the company’s stock.

NASDAQ:QCOM traded down $0.55 on Friday, hitting $78.53. 1,588,146 shares of the company’s stock were exchanged, compared to its average volume of 8,547,933. The firm has a 50-day moving average price of $74.44 and a 200-day moving average price of $70.48. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.61. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34. The company has a market cap of $95.68 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 2.17 and a beta of 1.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results 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. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, research analysts expect that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.

The firm also recently declared 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 of this dividend is Wednesday, September 11th. This represents a $2.48 annualized dividend and a yield of 3.16%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

QUALCOMM 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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