KMG Fiduciary Partners LLC Has $13.85 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

KMG Fiduciary Partners LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,185 shares of the wireless technology company's stock after selling 3,110 shares during the period. QUALCOMM makes up about 1.2% of KMG Fiduciary Partners LLC's portfolio, making the stock its 17th biggest holding. KMG Fiduciary Partners LLC's holdings in QUALCOMM were worth $13,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in shares of QUALCOMM during the 4th quarter worth $207,000. LaFleur & Godfrey LLC raised its holdings in shares of QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after buying an additional 300 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after buying an additional 9,343 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of QUALCOMM during the 4th quarter worth $10,394,000. Finally, Revolve Wealth Partners LLC raised its holdings in shares of QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 425,064 shares of company stock valued at $8,381,948. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 1.1%

Shares of QCOM stock opened at $149.24 on Friday. The stock has a market cap of $163.87 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.26. The stock has a 50-day moving average of $143.61 and a 200-day moving average of $155.12. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

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, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.39%. QUALCOMM's dividend payout ratio is presently 36.25%.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Evercore ISI lowered their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $189.88.

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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