First Financial Bank Trust Division Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

First Financial Bank Trust Division decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,082 shares of the wireless technology company's stock after selling 3,347 shares during the quarter. First Financial Bank Trust Division's holdings in QUALCOMM were worth $5,696,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Eagle Strategies LLC raised its stake in QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares during the last quarter. TBH Global Asset Management LLC lifted its position in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after purchasing an additional 63 shares in the last quarter. PDS Planning Inc increased its position in shares of QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after acquiring an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its stake in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after purchasing an additional 65 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. Loop Capital decreased their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Wells Fargo & Company cut their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Finally, Evercore ISI reduced their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of "Hold" and an average target price of $192.08.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $3.12 on Friday, reaching $145.22. The stock had a trading volume of 13,752,285 shares, compared to its average volume of 8,810,967. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a 50 day simple moving average of $144.60 and a 200 day simple moving average of $155.74. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market cap of $159.45 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is an increase 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 dividend on an annualized basis and a yield of 2.45%. QUALCOMM's payout ratio is presently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the sale, the chief financial officer now owns 53,112 shares in the company, valued at approximately $7,423,464.24. The trade was a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 425,068 shares of company stock worth $8,418,305. 0.08% of the stock is currently owned by company insiders.

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.