Woodstock Corp Sells 2,875 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Woodstock Corp lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,255 shares of the wireless technology company's stock after selling 2,875 shares during the quarter. Woodstock Corp's holdings in QUALCOMM were worth $7,105,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after purchasing an additional 4,955 shares during the period. Howard Bailey Securities LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $240,000. Teza Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $1,541,000. Purkiss Capital Advisors LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $303,000. Finally, Amundi raised its stake in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a report on Friday, May 9th. Benchmark dropped their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company dropped their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a 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 issued a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus price target of $189.88.

Insider Buying and Selling

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 421,731 shares of company stock valued at $7,894,997 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 1.0%

QUALCOMM stock traded up $1.43 during midday trading on Monday, reaching $146.63. The stock had a trading volume of 6,416,402 shares, compared to its average volume of 8,776,238. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The firm has a market cap of $161.00 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a fifty day moving average of $144.30 and a 200 day moving average of $155.53.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data 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. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the company posted $2.44 EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is 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.