Nwam LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Nwam LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 84.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,635 shares of the wireless technology company's stock after selling 20,466 shares during the quarter. Nwam LLC's holdings in QUALCOMM were worth $558,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after acquiring an additional 707,468 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the last quarter. Norges Bank acquired a new position in QUALCOMM during the fourth quarter worth about $2,721,882,000. Northern Trust Corp lifted its stake in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after buying an additional 1,424,106 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Robert W. Baird lowered their price target 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. Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Benchmark lowered their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $186.00.

QUALCOMM Trading Up 1.4%

NASDAQ QCOM opened at $154.80 on Friday. The company's fifty day simple moving average is $153.95 and its 200-day simple moving average is $154.98. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $196.24. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock has a market cap of $169.97 billion, a P/E ratio of 15.76, a PEG ratio of 2.00 and a beta of 1.26.

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

QUALCOMM Announces Dividend

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

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the 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 sale, the insider owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

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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