QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Decreased by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,537 shares of the wireless technology company's stock after selling 3,051 shares during the period. E. Ohman J or Asset Management AB's holdings in QUALCOMM were worth $10,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the 4th quarter worth $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at $29,000. Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QCOM shares. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. 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. According to MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $189.88.

QUALCOMM Trading Down 1.0%

Shares of NASDAQ QCOM opened at $147.56 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a market cap of $162.02 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.01 and a beta of 1.29. The business has a fifty day simple moving average of $143.69 and a 200-day simple moving average of $155.22.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same period last year, the company posted $2.44 earnings per share. The business's revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts predict 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 given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.41%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,064 shares of company stock valued at $8,381,948 in the last three months. 0.08% of the stock is currently owned by company insiders.

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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