QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Western Financial Corp CA

Western Financial Corp CA cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,600 shares of the wireless technology company’s stock after selling 341 shares during the quarter. Western Financial Corp CA’s holdings in QUALCOMM were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the 4th quarter valued at $26,000. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter valued at $27,000. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 over the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $155.93 on Thursday. The firm has a market cap of $171.21 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $148.57 and its two-hundred day moving average is $154.84. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed 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. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company cut their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, Susquehanna decreased their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” 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 given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.96.

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.