Rikoon Group LLC Has $957,000 Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Rikoon Group LLC lessened its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,552 shares of the wireless technology company’s stock after selling 199 shares during the period. Rikoon Group LLC’s holdings in QUALCOMM were worth $957,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Bessemer Group Inc. lifted its holdings in shares of QUALCOMM by 2.5% during the 2nd quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock worth $735,000 after acquiring an additional 233 shares during the period. Cincinnati Financial Corp lifted its holdings in shares of QUALCOMM by 4.9% during the 2nd quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock worth $72,837,000 after acquiring an additional 45,000 shares during the period. Jennison Associates LLC lifted its holdings in shares of QUALCOMM by 996.4% during the 2nd quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock worth $1,162,922,000 after acquiring an additional 13,893,238 shares during the period. FLC Capital Advisors lifted its holdings in shares of QUALCOMM by 36.1% during the 2nd quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock worth $578,000 after acquiring an additional 2,000 shares during the period. Finally, Balasa Dinverno & Foltz LLC bought a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $263,000. Hedge funds and other institutional investors own 78.30% of the company’s stock.

Several equities analysts recently commented on QCOM shares. Daiwa Capital Markets started coverage on shares of QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. BidaskClub raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th. Mizuho increased their price objective on shares of QUALCOMM from $68.00 to $80.00 and gave the company a “positive” rating in a research note on Thursday. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $88.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $85.18.

In other news, EVP Michelle M. Sterling sold 10,398 shares of QUALCOMM stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $779,953.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark D. Mclaughlin acquired 2,705 shares of QUALCOMM stock in a transaction dated Wednesday, August 28th. The shares were acquired at an average price of $73.84 per share, with a total value of $199,737.20. Following the completion of the acquisition, the director now directly owns 5,220 shares of the company’s stock, valued at $385,444.80. The disclosure for this purchase can be found here. Insiders have sold 19,118 shares of company stock valued at $1,477,392 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

Shares of QCOM stock traded up $4.05 during trading hours on Friday, hitting $94.03. 16,371,200 shares of the company’s stock traded hands, compared to its average volume of 14,163,117. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. The stock has a market cap of $103.89 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The stock’s 50 day simple moving average is $78.92 and its 200 day simple moving average is $76.48. QUALCOMM, Inc. has a 12 month low of $49.10 and a 12 month high of $94.11.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. As a group, equities research analysts expect that QUALCOMM, Inc. will post 3.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s payout ratio is 87.32%.

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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