QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Comerica Bank

Comerica Bank lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,314 shares of the wireless technology company's stock after selling 21,632 shares during the quarter. Comerica Bank's holdings in QUALCOMM were worth $41,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM in the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the 4th quarter worth $38,000. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on QCOM shares. Citigroup reduced their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday. Finally, TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $194.11.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock worth $5,047,052 in the last three months. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 8.9 %

Shares of QCOM stock traded down $13.25 during trading on Thursday, hitting $135.21. 22,792,863 shares of the stock traded hands, compared to its average volume of 8,939,605. The firm has a market capitalization of $149.54 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 52-week low of $120.80 and a 52-week high of $230.63. The firm's fifty day moving average price is $148.16 and its 200-day moving average price is $158.76.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted 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 return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.63%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

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.