Davis R M Inc. Has $41.15 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Davis R M Inc. reduced its stake in QUALCOMM by 1.9%, selling 5,187 shares and now holding 267,900 shares valued at approximately $41.15 million.
• QUALCOMM's recent earnings report showed an EPS of $2.77, exceeding estimates, with quarterly revenue at $10.37 billion, up 10.4% year-over-year.
• The company announced a quarterly dividend of $0.89 per share, with a payout ratio of 36.25%, to be distributed on September 25th.

Davis R M Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,900 shares of the wireless technology company's stock after selling 5,187 shares during the quarter. Davis R M Inc.'s holdings in QUALCOMM were worth $41,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after purchasing an additional 3,247,068 shares in the last quarter. Northern Trust Corp grew its position in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in QUALCOMM during the fourth quarter valued at approximately $204,085,000. Finally, Capital Research Global Investors grew its position in QUALCOMM by 525.5% during the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after purchasing an additional 1,187,531 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $0.20 during trading on Friday, reaching $146.96. The company's stock had a trading volume of 1,776,540 shares, compared to its average volume of 8,460,758. The stock has a 50-day moving average price of $155.05 and a two-hundred day moving average price of $155.00. The stock has a market capitalization of $161.36 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.44%. The firm had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the company posted $2.33 EPS. The company's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed 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 of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM's dividend payout ratio is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated 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 ninety days, insiders have sold 422,499 shares of company stock worth $8,090,351. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. Wall Street Zen raised shares of QUALCOMM from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Sanford C. Bernstein set a $185.00 target price on shares of QUALCOMM and gave the company an "outperform" rating in a research note on Monday. Evercore ISI reduced their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $181.91.

About QUALCOMM

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.