Dividend Assets Capital LLC Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Dividend Assets Capital LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,171 shares of the wireless technology company's stock after selling 28,597 shares during the quarter. QUALCOMM comprises approximately 1.7% of Dividend Assets Capital LLC's investment portfolio, making the stock its 23rd largest position. Dividend Assets Capital LLC's holdings in QUALCOMM were worth $8,782,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at $240,000. Teza Capital Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at $1,541,000. Purkiss Capital Advisors LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at $303,000. Amundi increased its stake in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, First Foundation Advisors increased its stake in shares of QUALCOMM by 41.2% in the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after acquiring an additional 45,769 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 over the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna decreased their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $3.98 during midday trading on Friday, reaching $154.72. The company had a trading volume of 8,444,486 shares, compared to its average volume of 8,732,938. The stock has a market cap of $169.88 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company's 50 day moving average price is $145.85 and its 200 day moving average price is $155.15.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company's revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 earnings per share. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.30%. 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.