Williams Jones Wealth Management LLC. Sells 3,904 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Williams Jones Wealth Management LLC. decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,833 shares of the wireless technology company's stock after selling 3,904 shares during the quarter. Williams Jones Wealth Management LLC.'s holdings in QUALCOMM were worth $1,511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Woodline Partners LP bought a new stake in shares of QUALCOMM during the 4th quarter valued at $7,234,000. Sovereign s Capital Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at about $3,089,000. Sphera Management Technology Funds Ltd acquired a new position in QUALCOMM in the fourth quarter valued at about $2,117,000. Spurstone Advisory Services LLC bought a new position in QUALCOMM during the fourth quarter worth about $47,000. Finally, Visionary Wealth Advisors grew its position in shares of QUALCOMM by 0.9% during the 4th quarter. Visionary Wealth Advisors now owns 53,667 shares of the wireless technology company's stock worth $8,244,000 after buying an additional 469 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,568 shares of company stock worth $1,818,305. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on QCOM. Citigroup lowered 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. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of "Hold" and a consensus target price of $192.08.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $1.99 during mid-day trading on Friday, reaching $145.38. The company had a trading volume of 8,991,695 shares, compared to its average volume of 8,869,145. The firm has a market cap of $159.63 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 2.01 and a beta of 1.29. The business's 50-day simple moving average is $145.68 and its 200 day simple moving average is $156.54. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The company 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 firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 EPS. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared 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. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

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.