Barton Investment Management Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Barton Investment Management decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,727 shares of the wireless technology company’s stock after selling 621 shares during the period. QUALCOMM accounts for 0.9% of Barton Investment Management’s portfolio, making the stock its 17th largest position. Barton Investment Management’s holdings in QUALCOMM were worth $7,485,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of QUALCOMM in the 4th quarter worth $2,721,882,000. Amundi grew its position in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the fourth quarter worth about $527,053,000. GAMMA Investing LLC raised its holdings in shares of QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of QUALCOMM by 12.7% in 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 period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.1%

QCOM stock 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 firm has a fifty day moving average price of $143.61 and a two-hundred day moving average price of $155.12. 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 firm has a market cap of $163.87 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter last year, the company posted $2.44 earnings per share. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. Research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.39%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other 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 transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,064 shares of company stock worth $8,381,948. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Citigroup cut their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $189.88.

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.