MV Capital Management Inc. Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

MV Capital Management Inc. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,554 shares of the wireless technology company’s stock after selling 1,527 shares during the quarter. MV Capital Management Inc.’s holdings in QUALCOMM were worth $2,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Peoples Bank OH purchased a new position in QUALCOMM during the fourth quarter valued at $219,000. Bank Hapoalim BM increased its holdings in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC increased its holdings in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after acquiring an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. increased its holdings in shares of QUALCOMM by 6.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. bought a new position in shares of QUALCOMM during the fourth quarter valued at $305,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $0.13 during trading hours on Tuesday, reaching $200.16. The stock had a trading volume of 5,585,757 shares, compared to its average volume of 9,320,609. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a 50 day moving average price of $196.62 and a two-hundred day moving average price of $170.08. The stock has a market capitalization of $223.38 billion, a PE ratio of 26.84, a PEG ratio of 2.42 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Insider Activity

In other news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now owns 54 shares in the company, valued at approximately $9,802.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock valued at $8,456,475. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on QCOM shares. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI started coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Morgan Stanley raised their target price on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

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.