LS Investment Advisors LLC Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

LS Investment Advisors LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,452 shares of the wireless technology company's stock after selling 1,852 shares during the period. QUALCOMM accounts for 2.0% of LS Investment Advisors LLC's investment portfolio, making the stock its 15th biggest position. LS Investment Advisors LLC's holdings in QUALCOMM were worth $12,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Howard Bailey Securities LLC bought a new position in QUALCOMM during the 4th quarter valued at approximately $240,000. Teza Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $1,541,000. Purkiss Capital Advisors LLC purchased a new stake in QUALCOMM in the fourth quarter worth $303,000. Amundi boosted its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, First Foundation Advisors increased its position in 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 purchasing an additional 45,769 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now directly owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 425,064 shares of company stock worth $8,381,948. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QCOM. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Citigroup decreased their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Stock Up 1.1%

Shares of QUALCOMM stock traded up $1.68 on Friday, reaching $149.24. The company's stock had a trading volume of 5,789,125 shares, compared to its average volume of 8,717,768. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The firm's fifty day simple moving average is $143.69 and its two-hundred day simple moving average is $155.22. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $163.87 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company earned $2.44 EPS. Equities analysts anticipate 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 issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.39%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

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.