UMB Bank n.a. Sells 608 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

UMB Bank n.a. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 37,084 shares of the wireless technology company’s stock after selling 608 shares during the period. UMB Bank n.a.’s holdings in QUALCOMM were worth $5,696,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter valued at about $30,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $149.24 on Monday. The stock has a 50 day moving average of $143.61 and a 200 day moving average of $155.12. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The firm has a market cap of $163.87 billion, a PE ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.26. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.39%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold 425,064 shares of company stock valued at $8,381,948 in the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on QCOM shares. Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Evercore ISI dropped their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $189.88.

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.