Chilton Capital Management LLC Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Chilton Capital Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 95.4% during the 1st quarter, Holdings Channel reports. The firm owned 7,049 shares of the wireless technology company’s stock after selling 146,627 shares during the period. Chilton Capital Management LLC’s holdings in QUALCOMM were worth $1,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Banque Transatlantique SA purchased a new stake in QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC increased its stake in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after buying an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter worth $27,000. Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in QUALCOMM in the 4th quarter worth $30,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Bank of America cut their price target on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. 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. Citigroup cut their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and a consensus price target of $186.96.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,016 shares of company stock worth $8,437,440 over the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock opened at $162.11 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock’s 50 day simple moving average is $151.32 and its two-hundred day simple moving average is $154.94. The company has a market cap of $177.99 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.20%. QUALCOMM’s dividend payout ratio is 36.25%.

QUALCOMM 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.