Beech Hill Advisors Inc. Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Beech Hill Advisors Inc. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,776 shares of the wireless technology company’s stock after selling 1,054 shares during the period. QUALCOMM accounts for about 2.0% of Beech Hill Advisors Inc.’s holdings, making the stock its 11th biggest position. Beech Hill Advisors Inc.’s holdings in QUALCOMM were worth $5,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi increased its position in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $527,053,000. GAMMA Investing LLC lifted its position in QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Finally, Northern Trust Corp grew its stake in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Robert W. Baird cut their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Loop Capital decreased their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $186.96.

QUALCOMM Price Performance

Shares of QCOM stock opened at $155.93 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The firm has a market cap of $171.21 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.01 and a beta of 1.26. The business’s 50 day moving average price is $148.57 and its 200-day moving average price is $154.84.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the firm earned $2.44 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities research 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 $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.28%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

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.