First Hawaiian Bank Sells 4,164 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Hawaiian Bank cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 30.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,734 shares of the wireless technology company's stock after selling 4,164 shares during the period. First Hawaiian Bank's holdings in QUALCOMM were worth $1,495,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after buying an additional 707,468 shares in the last quarter. Geode Capital Management LLC increased its holdings in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after buying an additional 670,432 shares during the period. Norges Bank bought a new position in QUALCOMM in the 4th quarter valued at about $2,721,882,000. Amundi boosted its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average price target of $192.08.

QUALCOMM Trading Down 2.1%

QCOM stock traded down $3.12 during trading on Friday, hitting $145.22. The company had a trading volume of 13,752,285 shares, compared to its average volume of 8,785,850. The business has a 50-day moving average of $144.30 and a 200-day moving average of $155.62. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The stock has a market cap of $159.45 billion, a PE ratio of 15.51, a PEG ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Increases Dividend

The company also recently declared 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. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated 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 directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,068 shares of company stock worth $8,418,305 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

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.