QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,015 shares of the wireless technology company’s stock after selling 181 shares during the quarter. Tributary Capital Management LLC’s holdings in QUALCOMM were worth $617,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter worth $27,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the period. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 0.1%

NASDAQ:QCOM opened at $154.07 on Thursday. The business’s 50-day simple moving average is $153.60 and its 200 day simple moving average is $154.97. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $200.00. The stock has a market cap of $169.17 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 earnings per share. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QCOM. Benchmark lowered their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital lowered their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average target price of $186.39.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by company insiders.

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.