QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 35,835 shares of the wireless technology company’s stock after selling 3,090 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in QUALCOMM were worth $5,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $145.30 on Monday. The business’s fifty day moving average price is $146.38 and its two-hundred day moving average price is $157.41. The stock has a market cap of $159.54 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. 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 Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,312 shares of company stock worth $2,457,779. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Wells Fargo & Company dropped their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Evercore ISI lowered their target price 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. Robert W. Baird lowered their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average target price of $192.08.

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.