Manning & Napier Group LLC Has $45.28 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Manning & Napier Group LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,098 shares of the wireless technology company’s stock after selling 3,499 shares during the period. Manning & Napier Group LLC’s holdings in QUALCOMM were worth $45,283,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. North Growth Management Ltd. increased its holdings in shares of QUALCOMM by 108.5% during the third quarter. North Growth Management Ltd. now owns 123,000 shares of the wireless technology company’s stock worth $15,810,000 after buying an additional 64,000 shares in the last quarter. Field & Main Bank grew its holdings in shares of QUALCOMM by 21.1% during the third quarter. Field & Main Bank now owns 1,215 shares of the wireless technology company’s stock worth $157,000 after buying an additional 212 shares in the last quarter. Canton Hathaway LLC boosted its position in QUALCOMM by 14.4% during the 3rd quarter. Canton Hathaway LLC now owns 2,002 shares of the wireless technology company’s stock worth $258,000 after acquiring an additional 252 shares during the last quarter. Pacific Wealth Strategies Group Inc. raised its stake in shares of QUALCOMM by 5.2% during the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 10,739 shares of the wireless technology company’s stock worth $1,385,000 after purchasing an additional 529 shares in the last quarter. Finally, Becker Capital Management Inc. raised its stake in shares of QUALCOMM by 2.2% during the 3rd quarter. Becker Capital Management Inc. now owns 259,786 shares of the wireless technology company’s stock worth $33,507,000 after purchasing an additional 5,527 shares in the last quarter. Institutional investors own 71.66% of the company’s stock.

In other QUALCOMM news, CAO Erin L. Polek sold 2,847 shares of the business’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $180.98, for a total transaction of $515,250.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Several analysts have recently issued reports on QCOM shares. Wells Fargo & Company increased their target price on QUALCOMM from $138.00 to $150.00 and gave the stock an “equal weight” rating in a report on Thursday, November 4th. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $180.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, November 4th. KeyCorp raised their price objective on QUALCOMM from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, November 17th. Deutsche Bank Aktiengesellschaft lifted their price target on QUALCOMM from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, November 17th. Finally, Citigroup boosted their target price on QUALCOMM from $165.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, November 18th. Twelve equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Buy” and an average price target of $181.50.

Shares of QUALCOMM stock opened at $180.71 on Friday. The company has a market capitalization of $202.40 billion, a P/E ratio of 22.96, a PEG ratio of 0.99 and a beta of 1.31. The company’s fifty day moving average is $144.35 and its two-hundred day moving average is $141.28. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.41 and a current ratio of 1.68. QUALCOMM Incorporated has a 1 year low of $122.17 and a 1 year high of $188.77.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 3rd. The wireless technology company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.49. QUALCOMM had a net margin of 26.94% and a return on equity of 104.16%. During the same quarter in the prior year, the company earned $1.23 EPS. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.51 earnings per share for the current year.

QUALCOMM declared that its board has initiated a share repurchase plan on Tuesday, October 12th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the wireless technology company to purchase up to 7.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Thursday, December 2nd will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, December 1st. QUALCOMM’s dividend payout ratio (DPR) is 34.56%.

QUALCOMM Company Profile

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)