Freestone Capital Holdings LLC Sells 4,711 Shares of QUALCOMM Incorporated $QCOM

Key Points

• Freestone Capital Holdings LLC has reduced its stake in QUALCOMM by 5.1%, selling 4,711 shares and now holding 87,738 shares worth approximately $13.5 million.
• Several other institutional investors, including Cresset Asset Management LLC and Algert Global LLC, increased their stakes in QUALCOMM, contributing to institutional ownership of 74.35% of the company.
• QUALCOMM recently declared a quarterly dividend of $0.89 per share, reflecting a 2.3% yield and a dividend payout ratio of 34.33%.

Freestone Capital Holdings LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,738 shares of the wireless technology company's stock after selling 4,711 shares during the quarter. Freestone Capital Holdings LLC's holdings in QUALCOMM were worth $13,477,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter valued at $27,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC lifted its holdings 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 purchasing an additional 70 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

QUALCOMM stock traded up $1.05 during midday trading on Monday, reaching $158.90. The company's stock had a trading volume of 4,770,266 shares, compared to its average volume of 8,752,932. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $155.80 and a 200-day moving average price of $153.38. The stock has a market cap of $171.45 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. The business's revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, September 4th. QUALCOMM's payout ratio is currently 34.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on QCOM shares. Mizuho cut their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $181.10.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer 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 disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,352,355 over the last 90 days. Insiders own 0.08% of the company's stock.

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.