BTR Capital Management Inc. Trims Holding in QUALCOMM, Inc. (QCOM)

BTR Capital Management Inc. Trims Holding in QUALCOMM, Inc. (QCOM)

BTR Capital Management Inc. lowered its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,436 shares of the wireless technology company’s stock after selling 13,156 shares during the period. QUALCOMM makes up 2.2% of BTR Capital Management Inc.’s holdings, making the stock its 15th biggest holding. BTR Capital Management Inc.’s holdings in QUALCOMM were worth $10,382,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of QCOM. Lavaca Capital LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at about $25,000. Csenge Advisory Group bought a new position in QUALCOMM during the 3rd quarter worth approximately $28,000. Gradient Investments LLC grew its position in QUALCOMM by 30.3% during the 4th quarter. Gradient Investments LLC now owns 1,259 shares of the wireless technology company’s stock worth $72,000 after acquiring an additional 293 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in QUALCOMM by 102.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,299 shares of the wireless technology company’s stock worth $74,000 after acquiring an additional 657 shares during the last quarter. Finally, Bell Rock Capital LLC bought a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $101,000. 89.52% of the stock is currently owned by institutional investors.

Shares of NASDAQ:QCOM opened at $50.29 on Friday. 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 company has a market capitalization of $61.85 billion, a P/E ratio of 15.76, a PEG ratio of 1.61 and a beta of 1.17. QUALCOMM, Inc. has a 52-week low of $48.56 and a 52-week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.09 by $0.11. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.89 billion. QUALCOMM had a return on equity of 36.66% and a net margin of 10.03%. The business’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, equities research analysts predict that QUALCOMM, Inc. will post 3.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.93%. The ex-dividend date is Wednesday, March 6th. QUALCOMM’s dividend payout ratio is currently 77.74%.

In other news, President Cristiano R. Amon sold 18,323 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $60.23, for a total transaction of $1,103,594.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald J. Rosenberg sold 9,048 shares of the firm’s stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $58.01, for a total value of $524,874.48. The disclosure for this sale can be found here. Insiders have sold a total of 33,668 shares of company stock worth $1,976,189 over the last ninety days. 0.11% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Citigroup reiterated a “neutral” rating and set a $55.00 price objective (down previously from $62.00) on shares of QUALCOMM in a research note on Thursday, January 31st. Bank of America reissued a “neutral” rating and issued a $60.00 target price (down previously from $67.00) on shares of QUALCOMM in a report on Thursday, January 31st. Raymond James set a $65.00 target price on QUALCOMM and gave the stock a “buy” rating in a report on Saturday, February 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of QUALCOMM in a report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $66.25.

About QUALCOMM

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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