Wendell David Associates Inc. Sells 5,930 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wendell David Associates Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,833 shares of the wireless technology company’s stock after selling 5,930 shares during the period. Wendell David Associates Inc.’s holdings in QUALCOMM were worth $5,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after buying an additional 707,468 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi increased its stake in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Finally, Northern Trust Corp lifted its holdings in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares in the company, valued at $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 in the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a report on Friday, May 9th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Finally, Benchmark dropped their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $189.88.

QUALCOMM Trading Up 1.4%

NASDAQ:QCOM opened at $156.87 on Tuesday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm’s fifty day moving average is $146.50 and its 200-day moving average is $155.12. The firm has a market cap of $172.24 billion, a P/E ratio of 16.76, 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. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is presently 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.