QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Crescent Sterling Ltd.

Crescent Sterling Ltd. trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the 1st quarter, Holdings Channel reports. The fund owned 10,349 shares of the wireless technology company’s stock after selling 124 shares during the quarter. QUALCOMM makes up about 1.6% of Crescent Sterling Ltd.’s investment portfolio, making the stock its 21st largest position. Crescent Sterling Ltd.’s holdings in QUALCOMM were worth $1,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. grew its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. WFA Asset Management Corp acquired a new stake in QUALCOMM in the first quarter valued at approximately $27,000. Legacy Financial Group LLC acquired a new stake in QUALCOMM in the third quarter valued at approximately $29,000. CarsonAllaria Wealth Management Ltd. grew its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $32,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at $2,747,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on QCOM. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Cantor Fitzgerald raised their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Canaccord Genuity Group raised their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.68.

QUALCOMM Trading Down 2.0 %

QUALCOMM stock traded down $3.35 during trading on Tuesday, reaching $165.85. 6,908,978 shares of the company were exchanged, compared to its average volume of 8,481,063. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a market capitalization of $185.09 billion, a P/E ratio of 24.04, a PEG ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The stock’s 50 day simple moving average is $166.45 and its two-hundred day simple moving average is $145.75.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

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.