QUALCOMM Incorporated (NASDAQ:QCOM) Position Lowered by First Washington CORP

First Washington CORP reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 33.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,298 shares of the wireless technology company’s stock after selling 2,610 shares during the quarter. First Washington CORP’s holdings in QUALCOMM were worth $1,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. City Holding Co. lifted its stake in QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock worth $996,000 after purchasing an additional 199 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of QUALCOMM by 173.3% in the 2nd quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after buying an additional 534,176 shares during the last quarter. BNP Paribas acquired a new position in shares of QUALCOMM in the 1st quarter valued at about $3,104,000. SWP Financial LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $593,000. Finally, Horizon Investment Services LLC acquired a new stake in QUALCOMM during the first quarter worth about $3,832,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on QCOM shares. Wolfe Research downgraded QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday. Finally, Robert W. Baird increased their price objective on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $168.70 on Wednesday. The firm has a 50-day moving average of $174.52 and a two-hundred day moving average of $182.15. The company has a market capitalization of $188.27 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. As a group, analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.