WestEnd Advisors LLC Has $18.87 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

WestEnd Advisors LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,843 shares of the wireless technology company's stock after selling 3,638 shares during the period. WestEnd Advisors LLC's holdings in QUALCOMM were worth $18,870,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QCOM. Vanguard Group Inc. grew its position in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after buying an additional 707,468 shares in the last quarter. Geode Capital Management LLC grew its position in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after buying an additional 670,432 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,721,882,000. Amundi grew its position in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares in 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. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM traded up $0.35 during midday trading on Friday, hitting $158.54. 22,085,291 shares of the stock traded hands, compared to its average volume of 8,521,493. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The firm has a market capitalization of $174.08 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The business's 50 day moving average price is $149.44 and its two-hundred day moving average price is $154.80.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share 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 business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the business earned $2.44 earnings per share. The company's revenue was up 17.0% on a year-over-year basis. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were paid a dividend of $0.89 per share. 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 dividend yield of 2.25%. The ex-dividend date was Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock worth $8,135,164 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Citigroup decreased their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One research 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Company 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.