Bank Julius Baer & Co. Ltd Zurich Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,470 shares of the wireless technology company's stock after selling 7,105 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in QUALCOMM were worth $5,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $0.44 during trading hours on Friday, reaching $158.40. 4,805,669 shares of the company's stock were exchanged, compared to its average volume of 7,220,092. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.64. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $173.92 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.05 and a beta of 1.26. The company has a 50-day moving average of $154.60 and a 200 day moving average of $155.03.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business 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 firm earned $2.44 earnings per share. The business's quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. QUALCOMM's payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

QCOM has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Benchmark lowered their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $184.86.

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.