Stewart & Patten Co. LLC Has $794,000 Stock Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Stewart & Patten Co. LLC lessened its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 47.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,000 shares of the wireless technology company’s stock after selling 8,000 shares during the quarter. Stewart & Patten Co. LLC’s holdings in QUALCOMM were worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of QUALCOMM by 16.1% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,875 shares of the wireless technology company’s stock worth $296,000 after purchasing an additional 537 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of QUALCOMM by 0.4% during the 3rd quarter. D.A. Davidson & CO. now owns 355,893 shares of the wireless technology company’s stock worth $27,148,000 after purchasing an additional 1,330 shares during the last quarter. Columbia Asset Management increased its stake in shares of QUALCOMM by 8.1% during the 2nd quarter. Columbia Asset Management now owns 28,386 shares of the wireless technology company’s stock worth $2,159,000 after purchasing an additional 2,115 shares during the last quarter. Wealthsource Partners LLC increased its stake in shares of QUALCOMM by 32.8% during the 3rd quarter. Wealthsource Partners LLC now owns 5,235 shares of the wireless technology company’s stock worth $399,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Pacific Center for Financial Services increased its stake in shares of QUALCOMM by 107.6% during the 2nd quarter. Pacific Center for Financial Services now owns 546 shares of the wireless technology company’s stock worth $42,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.

Shares of NASDAQ:QCOM traded up $3.06 during trading on Friday, hitting $94.85. 740,380 shares of the company’s stock were exchanged, compared to its average volume of 8,614,596. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $94.11. The firm has a 50-day moving average price of $87.33 and a two-hundred day moving average price of $80.34. The company has a current ratio of 1.88, a quick ratio of 1.72 and a debt-to-equity ratio of 2.74. The firm has a market cap of $103.41 billion, a P/E ratio of 33.65, a PEG ratio of 1.86 and a beta of 1.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.71 by $0.07. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the previous year, the company earned $0.90 EPS. QUALCOMM’s revenue was down 17.2% on a year-over-year basis. As a group, research analysts predict that QUALCOMM, Inc. will post 3.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.61%. QUALCOMM’s dividend payout ratio is 87.32%.

In other news, CFO Akash J. Palkhiwala sold 5,237 shares of QUALCOMM stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $89.00, for a total transaction of $466,093.00. Following the completion of the sale, the chief financial officer now owns 19,018 shares in the company, valued at approximately $1,692,602. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Cristiano R. Amon sold 8,611 shares of QUALCOMM stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.03, for a total transaction of $689,138.33. Following the sale, the president now owns 50,434 shares of the company’s stock, valued at approximately $4,036,233.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,744 shares of company stock valued at $9,631,265. 0.11% of the stock is owned by corporate insiders.

QCOM has been the topic of several analyst reports. Canaccord Genuity increased their price target on shares of QUALCOMM from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal” rating and increased their price target for the stock from $89.00 to $90.00 in a research note on Monday, November 11th. They noted that the move was a valuation call. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Rosenblatt Securities restated a “buy” rating and set a $95.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, BidaskClub lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Buy” and a consensus price target of $88.84.

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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