Wendell David Associates Inc. Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wendell David Associates Inc. lowered its position in shares of 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 and Exchange Commission. The institutional investor owned 34,833 shares of the wireless technology company's stock after selling 5,930 shares during the period. Wendell David Associates Inc.'s holdings in QUALCOMM were worth $5,351,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of QCOM. Tallon Kerry Patrick acquired a new position in QUALCOMM in the fourth quarter valued at $207,000. LaFleur & Godfrey LLC boosted its stake in QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after acquiring an additional 300 shares in the last quarter. Brighton Jones LLC boosted its stake in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in QUALCOMM in the fourth quarter valued at $10,394,000. Finally, Revolve Wealth Partners LLC boosted its stake in shares of 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 period. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

QUALCOMM stock traded up $0.81 during mid-day trading on Wednesday, reaching $155.27. The company had a trading volume of 1,657,876 shares, compared to its average volume of 8,694,715. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market capitalization of $170.49 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.75 and a beta of 1.26. The stock's 50-day simple moving average is $146.71 and its 200-day simple moving average is $155.12.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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 net margin of 26.11% and a return on equity of 40.11%. 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 firm's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction 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 trade represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was 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. Over the last three months, insiders sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Evercore ISI decreased 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. Bank of America decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday. Citigroup decreased their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $190.28.

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.