QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,250,713 shares of the wireless technology company’s stock after selling 38,457 shares during the quarter. QUALCOMM accounts for approximately 3.0% of Douglas Lane & Associates LLC’s holdings, making the stock its 2nd biggest holding. Douglas Lane & Associates LLC’s holdings in QUALCOMM were worth $211,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grandview Asset Management LLC lifted its position in QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after acquiring an additional 62 shares during the last quarter. Tealwood Asset Management Inc. boosted its holdings in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the period. VERITY Wealth Advisors grew its position in QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after purchasing an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC increased its holdings in shares of QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after purchasing an additional 66 shares during the period. Finally, Glass Jacobson Investment Advisors llc raised its position in shares of QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after buying an additional 68 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,185 shares of company stock worth $8,206,875. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $2.94 during trading on Friday, reaching $212.53. The company’s stock had a trading volume of 22,741,323 shares, compared to its average volume of 10,186,122. The stock has a 50-day moving average price of $192.36 and a two-hundred day moving average price of $167.17. The stock has a market capitalization of $237.18 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 2.62 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. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share 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 during the quarter, compared to the consensus estimate of $9.32 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.60%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Mizuho boosted their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Wolfe Research raised their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Company 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.