Haverford Trust Co Sells 24,995 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Haverford Trust Co reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,853 shares of the wireless technology company's stock after selling 24,995 shares during the period. Haverford Trust Co's holdings in QUALCOMM were worth $19,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company's stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the period. Morgan Stanley raised its stake in QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company's stock worth $2,306,438,000 after buying an additional 438,660 shares during the period. Northern Trust Corp boosted its holdings in QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company's stock worth $1,365,092,000 after acquiring an additional 415,398 shares in the last quarter. Invesco Ltd. grew its stake in QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company's stock valued at $1,027,269,000 after acquiring an additional 1,253,173 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of QUALCOMM by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company's stock valued at $913,752,000 after acquiring an additional 259,403 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an "equal weight" rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 8th. Barclays lifted their price target on QUALCOMM from $155.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Citigroup increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a "neutral" rating in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $180.48.

QUALCOMM Stock Performance

QUALCOMM stock traded up $0.59 during trading on Friday, hitting $193.86. The stock had a trading volume of 5,797,975 shares, compared to its average volume of 8,582,014. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock's 50 day moving average is $171.74 and its two-hundred day moving average is $151.37. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $196.08. The stock has a market cap of $216.35 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.41 and a beta of 1.33.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.75%. QUALCOMM's payout ratio is presently 43.01%.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total transaction of $1,539,081.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total transaction of $1,539,081.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company's stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 66,260 shares of company stock worth $11,478,430 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

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.

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