West Paces Advisors Inc. Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

West Paces Advisors Inc. cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,512 shares of the wireless technology company’s stock after selling 814 shares during the quarter. West Paces Advisors Inc.’s holdings in QUALCOMM were worth $595,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter valued at $2,507,978,000. International Assets Investment Management LLC increased its holdings in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. increased its holdings in QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after buying an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in QUALCOMM in the 1st quarter worth about $238,770,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 2.4 %

Shares of NASDAQ QCOM traded down $4.84 during trading hours on Wednesday, hitting $197.33. 9,677,598 shares of the company traded hands, compared to its average volume of 9,296,562. The stock has a market capitalization of $220.22 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average price is $193.66 and its 200 day moving average price is $168.40. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.72%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analyst Ratings Changes

Several research firms recently commented on QCOM. UBS Group lifted their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Barclays boosted their price target on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Wells Fargo & Company boosted their price target on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now directly owns 261,893 shares in the company, valued at approximately $44,068,735.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at approximately $9,802.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is currently owned by company insiders.

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.