Middleton & Co. Inc. MA Sells 2,116 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Middleton & Co. Inc. MA lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,792 shares of the wireless technology company's stock after selling 2,116 shares during the quarter. QUALCOMM accounts for about 1.5% of Middleton & Co. Inc. MA's investment portfolio, making the stock its 21st largest position. Middleton & Co. Inc. MA's holdings in QUALCOMM were worth $13,179,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in QCOM. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at $30,000. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, July 31st. Evercore ISI dropped their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Wells Fargo & Company lowered their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $181.10.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $147.51 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The firm has a 50 day simple moving average of $155.15 and a 200 day simple moving average of $154.70. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The firm has a market cap of $159.16 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.18 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $2.33 EPS. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 34.33%.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares in the company, valued at $3,102,655.20. The trade was a 7.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,352,355 over the last three months. 0.08% of the stock is currently owned by company insiders.

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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