Balentine LLC Has $1.56 Million Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Balentine LLC decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 20.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,236 shares of the wireless technology company’s stock after selling 7,250 shares during the quarter. QUALCOMM makes up 0.1% of Balentine LLC’s holdings, making the stock its 20th largest position. Balentine LLC’s holdings in QUALCOMM were worth $1,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ronald Blue & Co. LLC raised its holdings in shares of QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after acquiring an additional 18 shares during the last quarter. Hollencrest Securities LLC increased its holdings in shares of QUALCOMM by 0.9% in the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after purchasing an additional 40 shares during the last quarter. Farmers Trust Co. increased its holdings in shares of QUALCOMM by 0.9% in the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after purchasing an additional 48 shares during the last quarter. FCA Corp TX increased its holdings in shares of QUALCOMM by 1.0% in the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after purchasing an additional 49 shares during the last quarter. Finally, Meridian Investment Counsel Inc. increased its holdings in shares of QUALCOMM by 0.3% in the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 76.53% of the company’s stock.

Shares of QUALCOMM, Inc. (NASDAQ QCOM) traded down $0.36 during trading hours on Friday, hitting $64.02. The stock had a trading volume of 6,620,942 shares, compared to its average volume of 8,127,775. The stock has a market cap of $95,326.55, a price-to-earnings ratio of 38.80, a price-to-earnings-growth ratio of 1.83 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81. QUALCOMM, Inc. has a fifty-two week low of $48.92 and a fifty-two week high of $69.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 EPS. sell-side analysts expect that QUALCOMM, Inc. will post 3.07 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.

QCOM has been the subject of several recent analyst reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 price target for the company in a research report on Monday, November 13th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Canaccord Genuity lifted their target price on QUALCOMM from $76.00 to $83.00 and gave the company a “buy” rating in a report on Monday, November 13th. Citigroup lifted their target price on QUALCOMM from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Standpoint Research cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $66.02.

In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 919 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total value of $59,110.08. Following the completion of the transaction, the executive vice president now owns 11,116 shares of the company’s stock, valued at $714,981.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,989 shares of company stock worth $1,868,744. 0.17% of the stock is owned by corporate insiders.

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QUALCOMM Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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