QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,089,797 shares of the wireless technology company's stock after selling 15,755 shares during the period. QUALCOMM comprises approximately 2.5% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 3rd biggest position. Douglas Lane & Associates LLC owned approximately 0.10% of QUALCOMM worth $167,404,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. 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. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Loop Capital dropped their price target 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. Finally, Citigroup dropped their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One investment 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 MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $189.88.

QUALCOMM Stock Up 1.0%

QCOM stock traded up $1.43 during midday trading on Monday, hitting $146.63. The company's stock had a trading volume of 6,416,402 shares, compared to its average volume of 8,776,238. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The firm has a market capitalization of $161.00 billion, a P/E ratio of 15.67, a PEG ratio of 2.01 and a beta of 1.29. The firm has a 50-day simple moving average of $144.30 and a 200-day simple moving average of $155.53.

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 for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period last year, the firm earned $2.44 earnings per share. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.43%. QUALCOMM's payout ratio is presently 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 421,731 shares of company stock worth $7,894,997. Company insiders own 0.08% of the company's stock.

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.