QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Reduced by HM Payson & Co.

HM Payson & Co. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,736 shares of the wireless technology company’s stock after selling 920 shares during the period. HM Payson & Co.’s holdings in QUALCOMM were worth $971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the first quarter valued at approximately $1,171,516,000. International Assets Investment Management LLC lifted its stake in QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock traded down $4.69 during mid-day trading on Friday, reaching $159.31. The company had a trading volume of 16,618,860 shares, compared to its average volume of 9,984,102. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. 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 of $200.91 and a 200-day moving average of $178.31. The firm has a market cap of $177.47 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.99 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wolfe Research increased their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Tigress Financial upped their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $215.00 price target on shares of QUALCOMM in a research report on Thursday. Finally, Bank of America upped their price target on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $210.63.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of 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 through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The shares were 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 of the company’s stock, valued at $9,802.08. The disclosure for this sale can be found here. In the last three months, insiders sold 35,129 shares of company stock valued at $6,730,436. Company insiders own 0.08% of the company’s stock.

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.