Central Bank & Trust Co. Sells 1,732 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Central Bank & Trust Co. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,410 shares of the wireless technology company's stock after selling 1,732 shares during the quarter. Central Bank & Trust Co.'s holdings in QUALCOMM were worth $4,671,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of QCOM. Vanguard Group Inc. raised its position in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC grew its stake in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi boosted its stake in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares of the company's stock, valued at $7,272,711.90. This trade represents a 6.28% 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, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm'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 transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 425,064 shares of company stock worth $8,381,948 over the last ninety days. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Susquehanna cut their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Loop Capital cut their target price 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, Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Trading Up 1.1%

Shares of NASDAQ:QCOM opened at $149.24 on Friday. The stock has a market capitalization of $163.87 billion, a PE ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The firm has a fifty day moving average price of $143.61 and a 200 day moving average price of $155.12. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

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.

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.