Callan Family Office LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Callan Family Office LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 32.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,252 shares of the wireless technology company's stock after selling 3,889 shares during the period. Callan Family Office LLC's holdings in QUALCOMM were worth $1,268,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter worth approximately $27,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC increased its stake in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter worth approximately $30,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 3.9%

Shares of NASDAQ QCOM opened at $153.73 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market capitalization of $165.87 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.16 and a beta of 1.23. The stock has a 50 day moving average price of $155.20 and a 200 day moving average price of $153.89. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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 issued a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.3%. QUALCOMM's dividend payout ratio is currently 34.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QCOM shares. Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. UBS Group boosted their price objective on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Robert W. Baird cut their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $181.10.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,352,355 over the last 90 days. Company insiders own 0.08% of the company's stock.

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.

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.