Crestwood Advisors Group LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Crestwood Advisors Group LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 244,782 shares of the wireless technology company's stock after selling 51,541 shares during the quarter. Crestwood Advisors Group LLC's holdings in QUALCOMM were worth $37,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in QUALCOMM by 565.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after acquiring an additional 105,631 shares in the last quarter. Teza Capital Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after purchasing an additional 6,017 shares during the last quarter. Kanawha Capital Management LLC raised its position in QUALCOMM by 1.9% during the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock worth $13,120,000 after buying an additional 1,573 shares during the last quarter. Finally, First Foundation Advisors raised its position in QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock worth $24,083,000 after buying an additional 45,769 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QCOM opened at $157.25 on Monday. 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 stock's 50 day simple moving average is $153.95 and its 200-day simple moving average is $154.99. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $196.24. The stock has a market cap of $172.66 billion, a PE ratio of 16.01, a P/E/G ratio of 1.99 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the business earned $2.44 earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.26%. QUALCOMM's dividend payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QCOM. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a report on Thursday. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Susquehanna cut 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $186.00.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 shares were 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. In the last three months, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by company insiders.

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.

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