Edgestream Partners L.P. Sells 10,937 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Edgestream Partners L.P. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 88.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394 shares of the wireless technology company's stock after selling 10,937 shares during the period. Edgestream Partners L.P.'s holdings in QUALCOMM were worth $214,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of QCOM. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of QUALCOMM by 4.4% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 12,662 shares of the wireless technology company's stock valued at $1,945,000 after purchasing an additional 533 shares in the last quarter. Aurora Investment Counsel boosted its stake in QUALCOMM by 13.4% in the first quarter. Aurora Investment Counsel now owns 15,998 shares of the wireless technology company's stock valued at $2,457,000 after buying an additional 1,895 shares in the last quarter. Bleakley Financial Group LLC grew its position in QUALCOMM by 3.5% in the first quarter. Bleakley Financial Group LLC now owns 34,563 shares of the wireless technology company's stock valued at $5,309,000 after acquiring an additional 1,159 shares during the last quarter. Prudent Man Advisors LLC raised its stake in QUALCOMM by 4.1% during the first quarter. Prudent Man Advisors LLC now owns 7,975 shares of the wireless technology company's stock worth $1,225,000 after acquiring an additional 311 shares in the last quarter. Finally, Reyes Financial Architecture Inc. lifted its holdings in shares of QUALCOMM by 24.8% in the first quarter. Reyes Financial Architecture Inc. now owns 1,819 shares of the wireless technology company's stock worth $279,000 after acquiring an additional 361 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 1.4%

NASDAQ QCOM opened at $154.80 on Monday. The stock has a market capitalization of $169.97 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.99 and a beta of 1.26. The business has a 50 day simple moving average of $153.95 and a 200 day simple moving average of $154.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $196.24.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 EPS. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM's payout ratio is 36.25%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QCOM shares. Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $186.00.

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.

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