DT Investment Partners LLC Sells 1,111 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

DT Investment Partners LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,759 shares of the wireless technology company’s stock after selling 1,111 shares during the quarter. DT Investment Partners LLC’s holdings in QUALCOMM were worth $1,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Elite Financial Inc. bought a new position in shares of QUALCOMM during the first quarter valued at $86,000. World Investment Advisors grew its stake in shares of QUALCOMM by 3.2% during the 1st quarter. World Investment Advisors now owns 53,157 shares of the wireless technology company’s stock valued at $8,165,000 after purchasing an additional 1,629 shares during the period. Generali Investments CEE investicni spolecnost a.s. grew its stake in shares of QUALCOMM by 10.0% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 27,383 shares of the wireless technology company’s stock valued at $4,206,000 after purchasing an additional 2,483 shares during the period. Wayfinding Financial LLC grew its stake in shares of QUALCOMM by 3.8% during the 1st quarter. Wayfinding Financial LLC now owns 2,547 shares of the wireless technology company’s stock valued at $391,000 after purchasing an additional 94 shares during the period. Finally, Olde Wealth Management LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $141,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.1%

Shares of QCOM opened at $162.11 on Friday. The company has a market cap of $177.99 billion, a PE ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The business has a fifty day moving average of $151.32 and a 200 day moving average of $154.93. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 earnings per share. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s payout ratio is presently 36.25%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Evercore ISI reduced their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $186.96.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 425,016 shares of company stock worth $8,437,440. Insiders own 0.08% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.