QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,632 shares of the wireless technology company’s stock after selling 420 shares during the period. Quintet Private Bank Europe S.A.’s holdings in QUALCOMM were worth $558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Strategies LLC grew its stake in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. lifted its holdings in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 59 shares during the period. TBH Global Asset Management LLC lifted its holdings in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares during the period. PDS Planning Inc raised its position in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its position in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $158.70 on Friday. The stock has a market capitalization of $174.25 billion, a P/E ratio of 16.96, a PEG ratio of 2.01 and a beta of 1.26. The business has a 50 day simple moving average of $145.25 and a two-hundred day simple moving average of $155.17. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month 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.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Citigroup decreased their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.88.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.