Clifford Swan Investment Counsel LLC Has $23.60 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Clifford Swan Investment Counsel LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 208,852 shares of the wireless technology company’s stock after selling 2,890 shares during the quarter. QUALCOMM comprises about 1.1% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 19th biggest position. Clifford Swan Investment Counsel LLC’s holdings in QUALCOMM were worth $23,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Gradient Capital Advisors LLC raised its stake in QUALCOMM by 8.3% during the 3rd quarter. Gradient Capital Advisors LLC now owns 10,076 shares of the wireless technology company’s stock worth $1,138,000 after buying an additional 773 shares during the period. Cowa LLC acquired a new position in QUALCOMM during the 3rd quarter worth approximately $70,000. Chevy Chase Trust Holdings LLC raised its stake in QUALCOMM by 1.4% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 691,121 shares of the wireless technology company’s stock worth $78,082,000 after buying an additional 9,246 shares during the period. V Wealth Advisors LLC raised its stake in shares of QUALCOMM by 9.6% in the third quarter. V Wealth Advisors LLC now owns 7,284 shares of the wireless technology company’s stock worth $823,000 after purchasing an additional 637 shares during the last quarter. Finally, Schechter Investment Advisors LLC raised its stake in shares of QUALCOMM by 6.1% in the third quarter. Schechter Investment Advisors LLC now owns 12,332 shares of the wireless technology company’s stock worth $1,393,000 after purchasing an additional 713 shares during the last quarter. 70.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. Sanford C. Bernstein lowered their price objective on QUALCOMM to $165.00 in a research note on Friday, November 4th. Rosenblatt Securities lowered their price objective on QUALCOMM from $220.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. KeyCorp lowered their price objective on QUALCOMM from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Credit Suisse Group initiated coverage on QUALCOMM in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company downgraded QUALCOMM from an “equal weight” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Monday, December 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.46.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $1.32 during trading hours on Wednesday, reaching $129.38. The company had a trading volume of 408,820 shares, compared to its average volume of 8,229,695. QUALCOMM Incorporated has a one year low of $101.93 and a one year high of $192.10. The business has a fifty day simple moving average of $118.39 and a 200 day simple moving average of $126.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.75 and a quick ratio of 1.21. The firm has a market cap of $144.54 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOMGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The wireless technology company reported $2.74 EPS for the quarter, hitting analysts’ consensus estimates of $2.74. QUALCOMM had a return on equity of 86.71% and a net margin of 29.27%. The firm had revenue of $11.40 billion during the quarter, compared to analyst estimates of $11.38 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 8.81 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 2nd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, March 1st. QUALCOMM’s payout ratio is currently 26.36%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 26,427 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $122.33, for a total value of $3,232,814.91. Following the completion of the transaction, the insider now directly owns 51,179 shares of the company’s stock, valued at $6,260,727.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alexander H. Rogers sold 26,427 shares of QUALCOMM stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the completion of the sale, the insider now owns 51,179 shares of the company’s stock, valued at $6,260,727.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Erin L. Polek sold 2,894 shares of QUALCOMM stock in a transaction on Monday, November 21st. The shares were sold at an average price of $121.10, for a total value of $350,463.40. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

QUALCOMM Company Profile

(Get Rating)

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in 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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