QUALCOMM, Inc. (QCOM) Shares Sold by First Manhattan Co.

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First Manhattan Co. decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 21,804 shares of the wireless technology company’s stock after selling 1,527 shares during the quarter. First Manhattan Co.’s holdings in QUALCOMM were worth $1,243,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Atlas Brown Inc. raised its holdings in shares of QUALCOMM by 3.5% during the 1st quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock valued at $303,000 after purchasing an additional 179 shares in the last quarter. Boenning & Scattergood Inc. raised its holdings in shares of QUALCOMM by 3.1% during the 4th quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock valued at $372,000 after purchasing an additional 197 shares in the last quarter. Evanson Asset Management LLC raised its holdings in shares of QUALCOMM by 4.9% during the 4th quarter. Evanson Asset Management LLC now owns 4,231 shares of the wireless technology company’s stock valued at $241,000 after purchasing an additional 199 shares in the last quarter. Highland Capital Management LLC raised its holdings in shares of QUALCOMM by 0.4% during the 4th quarter. Highland Capital Management LLC now owns 53,274 shares of the wireless technology company’s stock valued at $3,032,000 after purchasing an additional 200 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of QUALCOMM by 7.4% during the 4th quarter. Global Retirement Partners LLC now owns 3,138 shares of the wireless technology company’s stock valued at $179,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

NASDAQ QCOM opened at $70.45 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 4.25. The firm has a market capitalization of $69.21 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.81 and a beta of 1.22. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.11. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The business’s quarterly revenue was down 21.3% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Research analysts forecast that QUALCOMM, Inc. will post 3.21 EPS for the current fiscal year.

QCOM has been the topic of a number of recent research reports. BidaskClub downgraded shares of QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Barclays reiterated a “buy” rating and issued a $70.00 target price on shares of QUALCOMM in a report on Friday, January 18th. Mizuho dropped their target price on shares of QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, January 31st. UBS Group reiterated a “neutral” rating and issued a $55.00 target price (down previously from $64.00) on shares of QUALCOMM in a report on Thursday, January 31st. Finally, ValuEngine downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $65.95.

In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the sale, the executive vice president now directly owns 62,301 shares in the company, valued at approximately $3,161,775.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

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QUALCOMM 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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Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM, Inc. (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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