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

Quintet Private Bank Europe S.A. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.4% during the first quarter, Holdings Channel.com reports. 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 institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi boosted its position 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 buying an additional 3,905,918 shares during the period. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM during the fourth quarter worth $527,053,000. GAMMA Investing LLC lifted its stake in QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp lifted its stake 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 acquiring an additional 1,493,076 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QCOM. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $189.88.

QUALCOMM Trading Down 0.5%

NASDAQ QCOM opened at $158.70 on Friday. 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 Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a market capitalization of $174.25 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The firm’s fifty day moving average price is $145.25 and its 200 day moving average price is $155.17.

QUALCOMM (NASDAQ:QCOM) last released 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. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock worth $8,135,164 in the last 90 days. Company insiders own 0.08% of the company’s stock.

About QUALCOMM

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.