BTR Capital Management Inc. Boosts Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

BTR Capital Management Inc. boosted its position in QUALCOMM, Inc. (NASDAQ:QCOM) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,833 shares of the wireless technology company’s stock after buying an additional 1,100 shares during the period. QUALCOMM makes up about 2.4% of BTR Capital Management Inc.’s holdings, making the stock its 11th biggest position. BTR Capital Management Inc.’s holdings in QUALCOMM were worth $13,926,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of QUALCOMM by 49.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock worth $2,672,850,000 after buying an additional 11,686,131 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of QUALCOMM by 0.3% during the 2nd quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock worth $1,880,201,000 after buying an additional 83,270 shares during the last quarter. Morgan Stanley raised its stake in shares of QUALCOMM by 126.9% during the 2nd quarter. Morgan Stanley now owns 15,465,753 shares of the wireless technology company’s stock worth $1,176,482,000 after buying an additional 8,648,635 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of QUALCOMM by 1,405.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 11,560,171 shares of the wireless technology company’s stock worth $879,382,000 after buying an additional 10,792,248 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of QUALCOMM by 1.4% during the 3rd quarter. Stifel Financial Corp now owns 3,236,188 shares of the wireless technology company’s stock worth $247,062,000 after buying an additional 45,360 shares during the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.

In other news, EVP Donald J. Rosenberg sold 28,729 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.51, for a total transaction of $2,427,887.79. Following the sale, the executive vice president now owns 18,431 shares of the company’s stock, valued at approximately $1,557,603.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 5,237 shares of QUALCOMM stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $89.00, for a total value of $466,093.00. Following the sale, the chief financial officer now directly owns 19,018 shares in the company, valued at approximately $1,692,602. The disclosure for this sale can be found here. Insiders sold a total of 113,744 shares of company stock worth $9,631,265 in the last ninety days. Insiders own 0.11% of the company’s stock.

Several research analysts recently weighed in on QCOM shares. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal” rating and boosted their target price for the company from $89.00 to $90.00 in a research note on Monday, November 11th. They noted that the move was a valuation call. Canaccord Genuity boosted their target price on QUALCOMM from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho upgraded QUALCOMM from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $100.00 in a report on Friday, November 15th. Argus upped their price target on QUALCOMM from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $95.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $88.84.

Shares of QCOM traded up $2.13 during midday trading on Friday, reaching $93.93. 4,477,597 shares of the stock were exchanged, compared to its average volume of 8,614,596. The company has a quick ratio of 1.72, a current ratio of 1.88 and a debt-to-equity ratio of 2.74. The company has a market cap of $103.41 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 1.86 and a beta of 1.62. The firm has a 50 day simple moving average of $87.33 and a 200-day simple moving average of $80.34. QUALCOMM, Inc. has a 12-month low of $49.10 and a 12-month high of $94.11.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.71 billion. QUALCOMM had a return on equity of 77.78% and a net margin of 18.07%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. Research analysts expect that QUALCOMM, Inc. will post 3.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.64%. QUALCOMM’s dividend payout ratio (DPR) is currently 87.32%.

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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