KG&L Capital Management LLC Sells 1,732 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

KG&L Capital Management LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,316 shares of the wireless technology company's stock after selling 1,732 shares during the quarter. KG&L Capital Management LLC's holdings in QUALCOMM were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eagle Strategies LLC grew its holdings in QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares during the last quarter. PDS Planning Inc raised its holdings in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares during the period. Cassady Schiller Wealth Management LLC raised its holdings in QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after acquiring an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. lifted its position in QUALCOMM by 2.9% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock worth $371,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares in the company, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 423,464 shares of company stock worth $8,135,164. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 1.4%

Shares of QUALCOMM stock traded up $2.26 during trading hours on Thursday, hitting $158.19. The company's stock had a trading volume of 6,272,334 shares, compared to its average volume of 8,514,973. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market capitalization of $173.69 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The stock has a 50 day moving average of $148.57 and a 200 day moving average of $154.84.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping 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 firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the company posted $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. QUALCOMM's dividend payout ratio is presently 36.25%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Benchmark lowered 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. TD Cowen dropped 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. Susquehanna decreased their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Bank of America reduced their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average target price of $186.96.

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.