QUALCOMM Incorporated (NASDAQ:QCOM) Position Lowered by Bank Hapoalim BM

Bank Hapoalim BM lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,734 shares of the wireless technology company's stock after selling 3,782 shares during the period. Bank Hapoalim BM's holdings in QUALCOMM were worth $2,417,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Banque Transatlantique SA bought a new position in QUALCOMM in the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter worth $30,000. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,747 shares of company stock worth $8,402,174. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on QCOM. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Wells Fargo & Company dropped their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a report on Friday, May 9th. One equities research 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $188.00.

QUALCOMM Trading Up 0.9%

Shares of NASDAQ QCOM traded up $1.36 during trading on Tuesday, reaching $159.45. The stock had a trading volume of 6,874,128 shares, compared to its average volume of 8,534,805. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The business's 50-day moving average price is $151.53 and its 200-day moving average price is $155.01. The company has a market cap of $175.08 billion, a P/E ratio of 16.24, a PEG ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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 return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 EPS. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were given a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.23%. QUALCOMM's payout ratio is presently 36.25%.

QUALCOMM Profile

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.