QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,224,678 shares of the wireless technology company’s stock after selling 34,583 shares during the quarter. Rhumbline Advisers owned 0.20% of QUALCOMM worth $341,733,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Eagle Strategies LLC boosted its stake in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after acquiring an additional 59 shares in the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after acquiring an additional 59 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc boosted its stake in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after acquiring an additional 64 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC boosted its stake in shares of QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $145.22 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market capitalization of $159.45 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The business has a 50 day simple moving average of $144.30 and a 200 day simple moving average of $155.59.

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

QUALCOMM Increases Dividend

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

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 425,068 shares of company stock worth $8,418,305. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on QCOM shares. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. TD Cowen decreased 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. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Finally, Loop Capital decreased their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.88.

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.