QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by NBT Bank N A NY

NBT Bank N A NY decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,097 shares of the wireless technology company’s stock after selling 466 shares during the period. NBT Bank N A NY’s holdings in QUALCOMM were worth $5,238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter worth $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth about $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $156.87 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a fifty day moving average price of $146.50 and a 200 day moving average price of $155.12. The stock has a market cap of $172.24 billion, a P/E ratio of 16.76, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping 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 the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.27%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is presently 36.25%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Evercore ISI cut their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Finally, Citigroup cut their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Hold” and a consensus price target of $189.88.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the transaction, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction 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 423,464 shares of company stock worth $8,135,164 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.