Mutual of America Capital Management LLC Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Mutual of America Capital Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,318 shares of the wireless technology company’s stock after selling 2,614 shares during the quarter. Mutual of America Capital Management LLC’s holdings in QUALCOMM were worth $24,772,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Summit Financial Wealth Advisors LLC lifted its position in QUALCOMM by 1.4% during the first quarter. Summit Financial Wealth Advisors LLC now owns 53,213 shares of the wireless technology company’s stock valued at $9,009,000 after purchasing an additional 732 shares during the period. Baron Silver Stevens Financial Advisors LLC acquired a new position in QUALCOMM during the first quarter valued at $269,000. FinTrust Capital Advisors LLC lifted its position in QUALCOMM by 1.7% during the first quarter. FinTrust Capital Advisors LLC now owns 11,947 shares of the wireless technology company’s stock valued at $2,023,000 after purchasing an additional 200 shares during the period. Wright Investors Service Inc. acquired a new position in QUALCOMM during the first quarter valued at $1,050,000. Finally, Daiwa Securities Group Inc. lifted its position in QUALCOMM by 22.5% during the first quarter. Daiwa Securities Group Inc. now owns 224,899 shares of the wireless technology company’s stock valued at $38,075,000 after purchasing an additional 41,355 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sylvia Acevedo sold 744 shares of the firm’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 transaction, the director now directly owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Up 1.0 %

QUALCOMM stock traded up $2.14 during mid-day trading on Monday, reaching $207.89. 6,911,432 shares of the company’s stock were exchanged, compared to its average volume of 9,245,932. The company has a market cap of $232.01 billion, a P/E ratio of 27.94, a P/E/G ratio of 2.50 and a beta of 1.27. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $200.58 and a 200-day moving average of $172.26.

QUALCOMM (NASDAQ:QCOM) last released its earnings results 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 net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.64%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. Argus upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. HSBC upped their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Finally, TD Cowen upped their price target on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus 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.