Compagnie Lombard Odier SCmA Sells 3,100 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Compagnie Lombard Odier SCmA lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 34.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,854 shares of the wireless technology company's stock after selling 3,100 shares during the period. Compagnie Lombard Odier SCmA's holdings in QUALCOMM were worth $899,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $27,000. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 in the last three months. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on QCOM shares. Susquehanna reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Evercore ISI cut their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company decreased their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Trading Down 2.5%

Shares of QCOM stock traded down $3.98 during mid-day trading on Friday, reaching $154.72. 8,444,486 shares of the stock traded hands, compared to its average volume of 8,732,938. The company has a market cap of $169.88 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock's fifty day simple moving average is $145.25 and its two-hundred day simple moving average is $155.17. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

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, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business earned $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. This is an increase 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 presently 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.