Morningstar Investment Services LLC Sells 25,833 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Morningstar Investment Services LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 58.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,601 shares of the wireless technology company's stock after selling 25,833 shares during the quarter. Morningstar Investment Services LLC's holdings in QUALCOMM were worth $2,857,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its position in shares of QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the period. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,310,735 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 1.4%

NASDAQ:QCOM traded up $2.19 on Friday, hitting $154.80. 7,429,971 shares of the stock were exchanged, compared to its average volume of 8,480,495. The stock has a market capitalization of $169.97 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.00 and a beta of 1.26. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $196.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The company's 50-day moving average price is $153.95 and its 200 day moving average price is $154.98.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 EPS. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research report on Thursday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and an average price target of $186.00.

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.