Stanley Laman Group Ltd. Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stanley Laman Group Ltd. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,295 shares of the wireless technology company's stock after selling 6,069 shares during the quarter. Stanley Laman Group Ltd.'s holdings in QUALCOMM were worth $3,425,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter worth $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QCOM shares. Benchmark decreased their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Loop Capital lowered their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup dropped their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM has a consensus rating of "Hold" and an average price target of $189.88.

Insider Buying and Selling at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock worth $8,135,164 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $3.98 during mid-day trading on Friday, reaching $154.72. 8,444,486 shares of the company's stock were exchanged, compared to its average volume of 8,742,171. The firm has a market capitalization of $169.88 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The firm has a 50-day moving average price of $145.85 and a two-hundred day moving average price of $155.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week 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 for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The company's quarterly revenue was up 17.0% on a year-over-year basis. Analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 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.