QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,148 shares of the wireless technology company’s stock after selling 574 shares during the quarter. QUALCOMM accounts for about 1.1% of Perkins Coie Trust Co’s investment portfolio, making the stock its 29th largest holding. Perkins Coie Trust Co’s holdings in QUALCOMM were worth $4,631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First City Capital Management Inc. boosted its holdings in QUALCOMM by 1.5% in the 1st quarter. First City Capital Management Inc. now owns 5,589 shares of the wireless technology company’s stock worth $859,000 after acquiring an additional 82 shares during the period. Harrington Investments INC boosted its holdings in QUALCOMM by 1.6% in the 1st quarter. Harrington Investments INC now owns 23,087 shares of the wireless technology company’s stock worth $3,546,000 after acquiring an additional 360 shares during the period. Butensky & Cohen Financial Security Inc. boosted its holdings in QUALCOMM by 0.3% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 28,789 shares of the wireless technology company’s stock worth $4,422,000 after acquiring an additional 76 shares during the period. Radnor Capital Management LLC boosted its stake in shares of QUALCOMM by 3.5% during the 1st quarter. Radnor Capital Management LLC now owns 26,447 shares of the wireless technology company’s stock valued at $4,063,000 after buying an additional 888 shares during the last quarter. Finally, Constitution Capital LLC purchased a new position in shares of QUALCOMM during the 1st quarter valued at approximately $338,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on QCOM shares. Loop Capital reduced their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $189.88.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the transaction, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 425,064 shares of company stock valued at $8,381,948. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $149.24 on Friday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business’s fifty day moving average price is $143.61 and its two-hundred day moving average price is $155.12. The firm has a market capitalization of $163.87 billion, a PE ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $2.44 earnings per share. On average, research 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 will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

QUALCOMM Profile

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.