Cullen Frost Bankers Inc. Sells 3,891 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cullen Frost Bankers Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,258 shares of the wireless technology company's stock after selling 3,891 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in QUALCOMM were worth $34,909,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its position in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares during the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter valued at approximately $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the fourth quarter worth $30,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on QCOM. Loop Capital lowered their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Benchmark reduced their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Wells Fargo & Company decreased their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $186.00.

QUALCOMM Stock Performance

Shares of QCOM traded up $2.04 during trading hours on Friday, reaching $154.65. 3,474,286 shares of the company traded hands, compared to its average volume of 8,473,513. 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 $169.81 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. The stock's fifty day moving average is $153.76 and its 200 day moving average is $154.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal 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. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently 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.