Beck Mack & Oliver LLC Reduces Position in QUALCOMM, Inc. (QCOM)

Beck Mack & Oliver LLC lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 699,865 shares of the wireless technology company’s stock after selling 51,024 shares during the quarter. QUALCOMM accounts for 1.4% of Beck Mack & Oliver LLC’s portfolio, making the stock its 26th largest position. Beck Mack & Oliver LLC’s holdings in QUALCOMM were worth $39,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in QUALCOMM by 9,505.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock worth $591,000 after acquiring an additional 33,262,770 shares during the period. Bank of New York Mellon Corp raised its position in QUALCOMM by 24.1% in the fourth quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock worth $1,471,289,000 after acquiring an additional 5,022,323 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in QUALCOMM by 0.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock worth $1,147,095,000 after acquiring an additional 96,527 shares during the period. Norges Bank bought a new position in QUALCOMM in the fourth quarter worth approximately $736,806,000. Finally, Eaton Vance Management raised its position in QUALCOMM by 10.3% in the fourth quarter. Eaton Vance Management now owns 7,306,885 shares of the wireless technology company’s stock worth $415,835,000 after acquiring an additional 680,397 shares during the period. Institutional investors own 82.04% of the company’s stock.

Shares of QCOM stock opened at $86.13 on Thursday. The firm has a market cap of $101.98 billion, a PE ratio of 27.00, a PEG ratio of 1.85 and a beta of 1.45. QUALCOMM, Inc. has a one year low of $49.10 and a one 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 announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.83 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. On average, equities analysts forecast that QUALCOMM, Inc. will post 3.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.48 annualized dividend and a dividend yield of 2.88%. QUALCOMM’s payout ratio is 77.74%.

Several research firms have weighed in on QCOM. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Canaccord Genuity increased their price target on shares of QUALCOMM from $89.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Citigroup increased their price target on shares of QUALCOMM from $55.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (up from $96.00) on shares of QUALCOMM in a research report on Thursday, May 2nd. Finally, Raymond James upgraded shares of 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 research report on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $83.09.

In other QUALCOMM news, Director Clark T. Jr. Randt sold 2,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total value of $179,160.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Cristiano R. Amon sold 13,466 shares of QUALCOMM stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the sale, the president now owns 37,614 shares in the company, valued at $2,256,840. The disclosure for this sale can be found here. Insiders have sold a total of 944,272 shares of company stock worth $36,962,932 over the last 90 days. Insiders own 0.11% of the company’s stock.

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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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