Fifth Third Bancorp Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Fifth Third Bancorp decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 410,449 shares of the wireless technology company's stock after selling 13,164 shares during the period. Fifth Third Bancorp's holdings in QUALCOMM were worth $63,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Tallon Kerry Patrick bought a new stake in QUALCOMM during the 4th quarter worth $207,000. LaFleur & Godfrey LLC grew its position in QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after acquiring an additional 300 shares during the last quarter. Brighton Jones LLC grew its position in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after acquiring an additional 9,343 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in QUALCOMM during the 4th quarter worth $10,394,000. Finally, Revolve Wealth Partners LLC grew its position in QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after acquiring an additional 340 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Down 0.5%

QCOM traded down $0.78 during midday trading on Thursday, reaching $158.70. 5,678,457 shares of the company were exchanged, compared to its average volume of 8,739,579. The company has a market cap of $174.25 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company's fifty day moving average price is $144.67 and its 200 day moving average price is $155.17. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the company posted $2.44 earnings per share. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.24%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on QCOM. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Robert W. Baird cut their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup cut their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $189.88.

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.