Milestone Asset Management LLC Has $659,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Milestone Asset Management LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 65.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,291 shares of the wireless technology company's stock after selling 8,073 shares during the quarter. Milestone Asset Management LLC's holdings in QUALCOMM were worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 707,468 shares in the last quarter. Geode Capital Management LLC raised its holdings in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank acquired a new position in shares of QUALCOMM in the 4th quarter valued at $2,721,882,000. Amundi boosted its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of 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. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 425,064 shares of company stock valued at $8,381,948 in the last quarter. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on QCOM. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Susquehanna cut 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. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, 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 report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Stock Performance

QUALCOMM stock traded up $0.50 during mid-day trading on Thursday, reaching $148.66. The company's stock had a trading volume of 2,531,659 shares, compared to its average volume of 8,729,305. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The business has a 50 day moving average price of $143.81 and a 200-day moving average price of $155.34. The firm has a market cap of $163.23 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly 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. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 earnings per share. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

QUALCOMM 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.