Lecap Asset Management Ltd. Sells 11,720 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lecap Asset Management Ltd. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 68.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,301 shares of the wireless technology company's stock after selling 11,720 shares during the quarter. Lecap Asset Management Ltd.'s holdings in QUALCOMM were worth $814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $1,541,000. Purkiss Capital Advisors LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $303,000. Amundi boosted its stake in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the last quarter. First Foundation Advisors grew its position in shares of QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after acquiring an additional 45,769 shares during the period. Finally, Sound Income Strategies LLC increased its stake in shares of QUALCOMM by 42.2% in the 1st quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock worth $162,000 after purchasing an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm'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 completion of the sale, the insider now owns 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the transaction, the chief financial officer now owns 49,779 shares of the company's stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

QCOM 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 8,514,955. The stock has a market cap of $173.69 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 2.01 and a beta of 1.26. The business's 50-day moving average price is $148.57 and its 200-day moving average price is $154.84. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its 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 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 in the previous year, the firm posted $2.44 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued 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 dividend on an annualized basis and a dividend yield of 2.25%. QUALCOMM's payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company lowered their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Citigroup lowered their price objective on 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 raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus price target of $186.96.

QUALCOMM Company 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.