QUALCOMM Incorporated (NASDAQ:QCOM) is Sonora Investment Management Group LLC's 10th Largest Position

Sonora Investment Management Group LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,959 shares of the wireless technology company's stock after selling 2,745 shares during the quarter. QUALCOMM comprises 1.9% of Sonora Investment Management Group LLC's portfolio, making the stock its 10th largest position. Sonora Investment Management Group LLC's holdings in QUALCOMM were worth $24,111,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of QCOM. Norges Bank acquired a new position in shares of QUALCOMM in the fourth quarter worth about $2,721,882,000. Amundi increased its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $527,053,000. GAMMA Investing LLC boosted its stake in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after buying an additional 3,247,068 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of 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. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company cut their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Benchmark lowered 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. Finally, Citigroup cut their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $189.88.

Insider Buying and Selling

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. This trade represents 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 valued at $8,135,164 over the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock traded down $2.29 during mid-day trading on Friday, hitting $156.41. 2,857,626 shares of the company's stock traded hands, compared to its average volume of 8,716,723. 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 one year low of $120.80 and a one year high of $230.63. The firm has a 50 day moving average price of $145.25 and a 200 day moving average price of $155.17. The company has a market cap of $171.73 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The business 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 quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 earnings per share. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. 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.