ST Germain D J Co. Inc. Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

ST Germain D J Co. Inc. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 2.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 108,466 shares of the wireless technology company’s stock after selling 2,490 shares during the quarter. ST Germain D J Co. Inc.’s holdings in QUALCOMM were worth $18,363,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.4% in 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 buying an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the period. Morgan Stanley raised its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the period. Norges Bank acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $2,507,978,000. Finally, Northern Trust Corp lifted its stake in shares of QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after purchasing an additional 415,398 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on QCOM. Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target for the company. Robert W. Baird lifted their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Bank of America increased their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Mizuho boosted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Argus lifted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $188.74.

Check Out Our Latest Report on QUALCOMM

QUALCOMM Stock Performance

QCOM stock traded up $4.87 on Tuesday, reaching $227.09. 22,020,266 shares of the company were exchanged, compared to its average volume of 9,016,257. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock’s fifty day moving average price is $188.58 and its 200 day moving average price is $164.88. The firm has a market capitalization of $253.43 billion, a PE ratio of 30.87, a PEG ratio of 2.62 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

QUALCOMM Company Profile

(Free Report)

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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