QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by D.B. Root & Company LLC

D.B. Root & Company LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,826 shares of the wireless technology company’s stock after selling 319 shares during the period. D.B. Root & Company LLC’s holdings in QUALCOMM were worth $2,002,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Peoples Bank OH acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $219,000. Bank Hapoalim BM increased its position 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 worth $5,123,000 after purchasing an additional 9,192 shares in the last quarter. NewEdge Wealth LLC increased its position 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 worth $2,991,000 after purchasing an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. increased its position 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 worth $6,591,000 after purchasing an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $305,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the transaction, the chief technology officer now directly owns 261,893 shares in the company, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. In the last three months, insiders sold 45,185 shares of company stock worth $8,206,875. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QCOM shares. Argus raised their price target on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Susquehanna raised their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Mizuho raised their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Wells Fargo & Company raised their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI started coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $4.03 during trading on Friday, hitting $199.18. 15,547,484 shares of the company were exchanged, compared to its average volume of 11,272,695. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The stock has a market capitalization of $222.28 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.30. The firm has a 50 day moving average price of $195.82 and a 200 day moving average price of $169.45.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. On average, equities analysts expect that QUALCOMM Incorporated will post 7.85 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. Shareholders of record on Thursday, May 30th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.71%. QUALCOMM’s payout ratio is 45.70%.

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.