QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Foundry Partners LLC

Foundry Partners LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,235 shares of the wireless technology company's stock after selling 3,011 shares during the quarter. Foundry Partners LLC's holdings in QUALCOMM were worth $11,250,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC lifted its stake in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 70 shares during the period. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $30,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Up 1.4%

Shares of QCOM stock traded up $2.19 during trading hours on Friday, reaching $154.80. 7,429,971 shares of the company's stock were exchanged, compared to its average volume of 8,480,495. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $196.24. The stock has a market cap of $169.97 billion, a PE ratio of 15.76, a PEG ratio of 2.00 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average price is $153.95 and its two-hundred day moving average price is $154.97.

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

QUALCOMM Announces Dividend

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

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday. Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Bank of America cut their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Finally, Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $186.00.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was 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 of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,099 shares of company stock worth $8,310,735. Corporate insiders own 0.08% of the company's stock.

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.