American National Bank & Trust Sells 2,414 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

American National Bank & Trust trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 32.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,921 shares of the wireless technology company's stock after selling 2,414 shares during the period. American National Bank & Trust's holdings in QUALCOMM were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in QCOM. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi raised its stake in shares of QUALCOMM by 36.6% in the 4th 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of QUALCOMM in the 4th quarter valued at approximately $527,053,000. GAMMA Investing LLC raised its stake 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 valued at $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Finally, Northern Trust Corp increased its position in 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 buying an additional 1,493,076 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

QCOM stock traded up $2.31 during trading on Tuesday, hitting $148.94. The company had a trading volume of 6,155,090 shares, compared to its average volume of 8,765,947. The company has a fifty day moving average price of $144.06 and a two-hundred day moving average price of $155.43. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market cap of $163.54 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business 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 $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.39%. QUALCOMM's payout ratio is currently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares in the company, valued at approximately $7,661,403.70. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 425,064 shares of company stock valued at $8,381,948 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Loop Capital dropped their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM currently has an average rating of "Hold" and a consensus target price of $189.88.

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.