626 Financial LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

by · The Markets Daily

626 Financial LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,284 shares of the wireless technology company’s stock after selling 102 shares during the quarter. QUALCOMM comprises 1.2% of 626 Financial LLC’s holdings, making the stock its 17th largest position. 626 Financial LLC’s holdings in QUALCOMM were worth $2,348,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $29,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM during the fourth quarter worth about $30,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction 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 directly owns 49,779 shares of the company’s stock, valued at $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 425,064 shares of company stock valued at $8,381,948 over the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $147.56 on Friday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a market cap of $162.02 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.01 and a beta of 1.29. 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 business’s 50 day moving average price is $143.69 and its 200 day moving average price is $155.22.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the company earned $2.44 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, 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 represents a $3.56 dividend on an annualized basis and a yield of 2.41%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is presently 36.25%.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Susquehanna dropped their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Finally, Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. One 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $189.88.

Check Out Our Latest Stock Report on QUALCOMM

QUALCOMM Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM – Free Report).