US Bancorp DE Sells 19,973 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• US Bancorp DE has reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5%, owning approximately 0.12% of the company, worth about $198,822,000.
• Recently, several hedge funds have significantly increased their stakes in QUALCOMM, with GAMMA Investing LLC raising its stake by 20,700.4% in the first quarter.
• QUALCOMM also announced a quarterly dividend of $0.89 per share, resulting in an annualized dividend yield of 2.4%, set to be paid on September 25th.

US Bancorp DE reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,294,329 shares of the wireless technology company's stock after selling 19,973 shares during the period. US Bancorp DE owned 0.12% of QUALCOMM worth $198,822,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after buying an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares during the last quarter. OneAscent Financial Services LLC increased its holdings in QUALCOMM by 80.6% during the fourth quarter. OneAscent Financial Services LLC now owns 4,477 shares of the wireless technology company's stock worth $688,000 after buying an additional 1,998 shares during the last quarter. Westpac Banking Corp increased its holdings in QUALCOMM by 15.9% during the fourth quarter. Westpac Banking Corp now owns 71,159 shares of the wireless technology company's stock worth $10,931,000 after buying an additional 9,760 shares during the last quarter. Finally, World Investment Advisors increased its stake in shares of QUALCOMM by 14.1% in the fourth quarter. World Investment Advisors now owns 51,528 shares of the wireless technology company's stock worth $7,916,000 after purchasing an additional 6,362 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction 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. In the last 90 days, insiders sold 424,099 shares of company stock valued at $8,324,591. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QCOM stock traded up $1.43 during midday trading on Friday, reaching $148.19. The company had a trading volume of 12,700,280 shares, compared to its average volume of 7,744,643. The company has a market capitalization of $159.90 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.08. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The firm has a 50-day moving average price of $155.11 and a 200-day moving average price of $154.93.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The firm's revenue was up 10.4% on a year-over-year basis. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. QUALCOMM's dividend payout ratio is 36.25%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on QCOM shares. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Mizuho reduced their target price on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Evercore ISI reduced their target price 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $181.91.

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.