QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Albion Financial Group UT

Albion Financial Group UT cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,223 shares of the wireless technology company's stock after selling 6,035 shares during the quarter. Albion Financial Group UT's holdings in QUALCOMM were worth $7,561,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Teza Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $1,541,000. Purkiss Capital Advisors LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $303,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. First Foundation Advisors raised its stake in shares of QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock worth $24,083,000 after purchasing an additional 45,769 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of QUALCOMM by 42.2% during the first quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock worth $162,000 after purchasing an additional 313 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the sale, the chief financial officer owned 53,112 shares in the company, valued at $7,423,464.24. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last ninety days. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QCOM. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital reduced their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $186.96.

QUALCOMM Price Performance

Shares of QCOM stock traded down $0.16 during mid-day trading on Tuesday, reaching $159.10. The stock had a trading volume of 1,769,357 shares, compared to its average volume of 8,493,482. The company has a market cap of $174.69 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The business has a 50-day simple moving average of $149.90 and a 200 day simple moving average of $154.78.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm posted $2.44 EPS. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was 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.