Welch & Forbes LLC Trims Stock Holdings in QUALCOMM Incorporated $QCOM

Welch & Forbes LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,438 shares of the wireless technology company’s stock after selling 444 shares during the quarter. Welch & Forbes LLC’s holdings in QUALCOMM were worth $22,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Brighton Jones LLC lifted its position in shares of QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of QUALCOMM by 24.8% in the first quarter. Golden State Wealth Management LLC now owns 4,457 shares of the wireless technology company’s stock valued at $685,000 after acquiring an additional 885 shares in the last quarter. Moody Aldrich Partners LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at $257,000. Finally, Catalyst Capital Advisors LLC lifted its position in shares of QUALCOMM by 51.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,958 shares of the wireless technology company’s stock valued at $454,000 after acquiring an additional 1,008 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Weiss Ratings upgraded QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. UBS Group set a $165.00 target price on QUALCOMM in a research report on Monday, October 27th. Arete upgraded QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Tuesday, August 26th. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Mizuho reduced their target price on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.95.

Insider Buying and Selling

In other news, CEO Cristiano R. Amon sold 150,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the completion of the sale, the chief executive officer owned 149,304 shares in the company, valued at approximately $24,718,770.24. This trade represents a 50.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $166.06, for a total value of $1,384,110.10. Following the completion of the transaction, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at $6,067,998.46. This represents a 18.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,502 shares of company stock worth $27,472,615 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

QCOM stock opened at $180.90 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The firm has a market cap of $195.19 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The stock has a 50-day simple moving average of $165.85 and a 200-day simple moving average of $156.67.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $0.89 dividend. The ex-dividend date is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

About QUALCOMM

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.