Bingham Private Wealth LLC Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Bingham Private Wealth LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 47.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,183 shares of the wireless technology company's stock after selling 1,936 shares during the period. Bingham Private Wealth LLC's holdings in QUALCOMM were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QCOM. Brighton Jones LLC lifted its stake in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after purchasing an additional 340 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in QUALCOMM by 50.1% in the fourth quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company's stock worth $645,000 after purchasing an additional 1,401 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $374,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of QUALCOMM by 8.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 21,973 shares of the wireless technology company's stock valued at $3,375,000 after buying an additional 1,701 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares of the company's stock, 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. Insiders have sold 424,099 shares of company stock valued at $8,310,735 over the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $2.19 on Friday, reaching $154.80. 7,429,971 shares of the stock were exchanged, compared to its average volume of 8,480,495. 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 capitalization of $169.97 billion, a PE ratio of 15.76, a PEG ratio of 1.99 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $196.24. The business has a fifty day moving average price of $153.95 and a two-hundred day moving average price of $154.98.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 earnings per share. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Benchmark dropped their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $186.00.

QUALCOMM Company 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.