QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Vest Financial LLC

Vest Financial LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 197,393 shares of the wireless technology company's stock after selling 33,379 shares during the quarter. Vest Financial LLC's holdings in QUALCOMM were worth $30,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Norges Bank acquired a new position in QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi lifted its position in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the fourth quarter worth about $527,053,000. GAMMA Investing LLC boosted its holdings in QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Finally, Northern Trust Corp increased its position in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of QCOM traded up $1.68 during mid-day trading on Friday, reaching $149.24. The company had a trading volume of 5,789,125 shares, compared to its average volume of 8,722,258. The company's 50-day moving average is $143.69 and its 200-day moving average is $155.22. The company has a market capitalization of $163.87 billion, a P/E ratio of 15.94, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. 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 (NASDAQ:QCOM - Get Free Report) last released its 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 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts anticipate 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. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.39%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares of the company's stock, valued at $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred 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 quarter, insiders sold 425,064 shares of company stock worth $8,381,948. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $189.88.

About QUALCOMM

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.