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Nichols & Pratt Advisers LLP MA Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

QUALCOMM logo with Computer and Technology background

Nichols & Pratt Advisers LLP MA raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,500 shares of the wireless technology company's stock after acquiring an additional 1,716 shares during the period. QUALCOMM makes up approximately 1.7% of Nichols & Pratt Advisers LLP MA's investment portfolio, making the stock its 21st largest position. Nichols & Pratt Advisers LLP MA's holdings in QUALCOMM were worth $24,497,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM in the 1st quarter valued at $27,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at $29,000. Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the 4th quarter valued at $30,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth $31,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. TD Cowen dropped their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Evercore ISI lowered 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 report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus target price of $186.96.

Get Our Latest Analysis on QUALCOMM

QUALCOMM Trading Down 0.1%

NASDAQ QCOM traded down $0.22 during trading hours on Friday, reaching $162.11. The company's stock had a trading volume of 4,280,773 shares, compared to its average volume of 8,538,196. The stock has a market cap of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The firm has a fifty day simple moving average of $151.05 and a 200-day simple moving average of $154.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Insider Activity at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,016 shares of company stock worth $8,437,440 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

About QUALCOMM

(Free Report)

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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