QUALCOMM Incorporated (NASDAQ:QCOM) Position Reduced by Jacobs & Co. CA

Jacobs & Co. CA reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,456 shares of the wireless technology company’s stock after selling 2,721 shares during the quarter. QUALCOMM comprises 1.8% of Jacobs & Co. CA’s portfolio, making the stock its 11th largest holding. Jacobs & Co. CA’s holdings in QUALCOMM were worth $16,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Algert Global LLC acquired a new position in QUALCOMM in the third quarter worth approximately $545,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of QUALCOMM by 4.3% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,130 shares of the wireless technology company’s stock valued at $3,568,000 after purchasing an additional 1,310 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in shares of QUALCOMM by 8.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 398,724 shares of the wireless technology company’s stock valued at $44,282,000 after purchasing an additional 29,700 shares during the period. Paragon Private Wealth Management LLC raised its stake in QUALCOMM by 6.6% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 1,974 shares of the wireless technology company’s stock valued at $219,000 after purchasing an additional 123 shares during the period. Finally, Profund Advisors LLC lifted its holdings in shares of QUALCOMM by 19.2% in the third quarter. Profund Advisors LLC now owns 139,043 shares of the wireless technology company’s stock valued at $15,442,000 after purchasing an additional 22,363 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on QCOM shares. HSBC raised their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a research report on Thursday, May 2nd. Mizuho lifted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. KeyCorp increased their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Trading Up 0.4 %

Shares of QCOM stock traded up $0.78 on Tuesday, hitting $201.62. The stock had a trading volume of 4,144,974 shares, compared to its average volume of 9,222,167. The firm has a market cap of $225.01 billion, a P/E ratio of 26.98, a PEG ratio of 2.59 and a beta of 1.29. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. 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 has a fifty day moving average price of $192.98 and a two-hundred day moving average price of $167.91.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm 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%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was 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 owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 over the last ninety days. Insiders own 0.08% of the company’s stock.

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.