KBC Group NV Sells 204,404 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

KBC Group NV lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,330,659 shares of the wireless technology company's stock after selling 204,404 shares during the quarter. QUALCOMM accounts for about 0.6% of KBC Group NV's investment portfolio, making the stock its 26th biggest position. KBC Group NV owned about 0.12% of QUALCOMM worth $204,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Emerald Advisors LLC boosted its position in QUALCOMM by 14.9% in the first quarter. Emerald Advisors LLC now owns 1,762 shares of the wireless technology company's stock valued at $271,000 after buying an additional 228 shares in the last quarter. Root Financial Partners LLC boosted its position in QUALCOMM by 10.3% in the first quarter. Root Financial Partners LLC now owns 2,747 shares of the wireless technology company's stock valued at $422,000 after buying an additional 257 shares in the last quarter. McGuire Investment Group LLC boosted its position in QUALCOMM by 0.3% in the first quarter. McGuire Investment Group LLC now owns 150,426 shares of the wireless technology company's stock valued at $23,107,000 after buying an additional 413 shares in the last quarter. Sovran Advisors LLC boosted its position in QUALCOMM by 1,543.1% in the first quarter. Sovran Advisors LLC now owns 47,107 shares of the wireless technology company's stock valued at $7,236,000 after buying an additional 44,240 shares in the last quarter. Finally, RBA Wealth Management LLC boosted its position in QUALCOMM by 1.6% in the first quarter. RBA Wealth Management LLC now owns 30,591 shares of the wireless technology company's stock valued at $4,699,000 after buying an additional 485 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. 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. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $186.96.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the transaction, the chief financial officer now directly owns 57,997 shares in the company, valued at approximately $7,661,403.70. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 0.2%

Shares of NASDAQ QCOM opened at $158.54 on Friday. The company's 50 day simple moving average is $149.44 and its 200 day simple moving average is $154.80. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The firm has a market capitalization of $174.08 billion, a P/E ratio of 16.14, a P/E/G ratio of 2.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business 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 business posted $2.44 earnings per share. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. On average, analysts predict 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 issued a $0.89 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.25%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

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.

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