AMI Asset Management Corp Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

AMI Asset Management Corp reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,235 shares of the wireless technology company's stock after selling 1,889 shares during the period. QUALCOMM makes up 2.0% of AMI Asset Management Corp's portfolio, making the stock its 24th biggest holding. AMI Asset Management Corp's holdings in QUALCOMM were worth $34,752,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter valued at approximately $27,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the fourth quarter worth $30,000. Institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Cowen lowered their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Evercore ISI decreased their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Finally, Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and a consensus price target of $186.96.

QUALCOMM Trading Up 1.4%

Shares of QCOM stock traded up $2.26 during trading hours on Thursday, reaching $158.19. The company's stock had a trading volume of 6,272,334 shares, compared to its average volume of 8,514,973. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $173.69 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.01 and a beta of 1.26. The firm's fifty day simple moving average is $148.57 and its 200 day simple moving average is $154.84. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the business earned $2.44 EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is presently 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.