First Horizon Advisors Inc. Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

First Horizon Advisors Inc. decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 87.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,706 shares of the wireless technology company's stock after selling 102,706 shares during the period. First Horizon Advisors Inc.'s holdings in QUALCOMM were worth $2,259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter worth $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the fourth quarter worth $29,000. Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the fourth quarter worth $30,000. Finally, Wood Tarver Financial Group LLC purchased a new position in QUALCOMM during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 425,016 shares of company stock worth $8,437,440 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. TD Cowen decreased their target price 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. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $186.96.

QUALCOMM Stock Down 0.1%

Shares of QUALCOMM stock opened at $162.11 on Friday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company's 50 day moving average is $151.05 and its 200 day moving average is $154.90. The company has a market cap of $177.99 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. 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 EPS. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.20%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

QUALCOMM 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.