Bank of New York Mellon Corp Has $1.44 Billion Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Bank of New York Mellon Corp reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,374,572 shares of the wireless technology company's stock after selling 295,879 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.85% of QUALCOMM worth $1,440,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter worth $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter worth about $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter worth about $29,000. Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the 4th quarter worth about $30,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $31,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on QCOM shares. Citigroup lowered their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Evercore ISI decreased their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Robert W. Baird cut their price target 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, Susquehanna decreased their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock traded down $0.22 on Friday, hitting $162.11. The stock had a trading volume of 4,280,773 shares, compared to its average volume of 8,546,883. The company has a fifty day moving average price of $151.32 and a two-hundred day moving average price of $154.93. 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 firm has a market cap of $177.99 billion, a P/E ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (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 company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change 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 presently 36.25%.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 425,016 shares of company stock valued at $8,437,440. 0.08% of the stock is owned by corporate insiders.

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.