The Tradition Capital Management LLC Sold shares of Qualcomm Inc. (QCOM)

The Tradition Capital Management LLC Sold shares of Qualcomm Inc. (QCOM)

Tradition Capital Management LLC decreased its stake in shares of Qualcomm Inc. (NASDAQ:QCOM) by 17.7% during the second quarter, Holdings Channel reports. The firm owned 83,074 shares of the wireless technology company’s stock after selling 17,888 shares during the period. Qualcomm comprises 1.5% of Tradition Capital Management LLC’s holdings, making the stock its 18th largest position. Tradition Capital Management LLC’s holdings in Qualcomm were worth $4,450,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Joel Isaacson & Co. LLC raised its stake in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares during the period. Americafirst Capital Management LLC bought a new stake in Qualcomm during the second quarter worth about $121,000. Delta Asset Management LLC TN raised its stake in Qualcomm by 12.8% in the second quarter. Delta Asset Management LLC TN now owns 2,417 shares of the wireless technology company’s stock worth $129,000 after buying an additional 275 shares during the period. Zions Bancorporation raised its stake in Qualcomm by 287.3% in the first quarter. Zions Bancorporation now owns 3,013 shares of the wireless technology company’s stock worth $155,000 after buying an additional 2,235 shares during the period. Finally, GWM Advisors LLC bought a new stake in Qualcomm during the second quarter worth about $214,000. Institutional investors own 78.10% of the company’s stock.

Shares of Qualcomm Inc. (NASDAQ:QCOM) traded down 2.41% during trading on Friday, hitting $68.40. The company had a trading volume of 17,952,659 shares. The stock has a market capitalization of $100.80 billion, a price-to-earnings ratio of 20.03 and a beta of 1.25. The stock has a 50-day moving average of $65.38 and a 200 day moving average of $58.53. Qualcomm Inc. has a 12-month low of $42.24 and a 12-month high of $71.62.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.

QCOM has been the subject of a number of research analyst reports. Evercore ISI lowered shares of Qualcomm from a “buy” rating to a “hold” rating and reduced their price target for the stock from $60.00 to $55.00 in a research report on Friday, July 1st. KeyCorp reissued a “buy” rating and issued a $59.00 price target on shares of Qualcomm in a research report on Wednesday, July 6th. TheStreet lowered shares of Qualcomm from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Zacks Investment Research raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Monday, July 11th. Finally, BMO Capital Markets lowered shares of Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a research report on Thursday, July 14th. Sixteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.96.

In related news, Director Raymond V. Dittamore sold 18,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $68.39, for a total value of $1,231,020.00. Following the sale, the director now directly owns 5,813 shares of the company’s stock, valued at $397,551.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew S. Grob sold 74,000 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $66.63, for a total value of $4,930,620.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Qualcomm Company 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.

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