QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 25.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,016 shares of the wireless technology company's stock after selling 3,760 shares during the period. Sunbelt Securities Inc.'s holdings in QUALCOMM were worth $1,692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. grew its holdings 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 period. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 2.5% during the 4th 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 purchasing 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 QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now directly owns 57,997 shares in the company, valued at approximately $7,661,403.70. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction 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 sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 0.2%

Shares of NASDAQ QCOM opened at $158.54 on Friday. The stock has a market cap of $174.08 billion, a PE ratio of 16.14, a P/E/G ratio of 2.04 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The company has a 50-day moving average of $149.44 and a 200 day moving average of $154.84.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The business's revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. Evercore ISI cut their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Bank of America dropped their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. 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, QUALCOMM currently has an average rating of "Hold" and an average price target of $186.96.

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.

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